10:36 AM Jan 5, 2023
“The headline story in our market in 2022 was all about inflation and the Bank of Canada’s efforts to bring inflation back to target by rapidly raising the policy rate,” said Andrew Lis, Director of Economics and Data Analytics for the REBGV. “After seeing record sales and prices during the pandemic, Metro Vancouver’s housing market experienced a year of caution in 2022 due to rising borrowing costs fueled by the Bank of Canada’s ongoing battle with inflation.
A good quantitative indicator of whether the market is leaning towards buyers or sellers is the sales-to-active-listings ratio. The REBGV a ratio over 20% as a sellers’ market and a ratio under 12% as a buyers’ market, with anything between an indication of a balanced market.
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