Rate hike and election drag Vancouver home sales down
Detached homes led losses — the benchmark dropped 7% to $1,775,200 on 643 sales.
Apartment transactions declined 16.7% to 892, with the benchmark off 5.9% at $673,400.
Attached homes were steadier, with 468 sales and a benchmark of $1,006,500, down 5.5% year-over-year.
The overall sales-to-active listings ratio sat at 13.4% — with detached at 11.6%, attached at 16.5%, and apartments at 13.5%.
Historical data shows downward price pressure typically builds when the ratio holds below 12% over a sustained period.
