Two Rate Cuts Fail to Boost Vancouver Housing Market; Prices Drop to Last Year's Levels

Sales data from July 2024 shows 2,333 transactions, down 3.5% from the previous month and 5% from the same time last year. Despite the rate cuts, the market hasn’t picked up, mainly due to economic uncertainty and stricter mortgage approval standards. 

New listings in July reached 5,597, up 20% from last year, with overall listings up 40% compared to 2023. The current inventory stands at 6.14 months, marking a shift to a buyer's market. For the first time, the Home Price Index has dropped below 2023 levels, down 1.1% year-over-year, showing that the cooling market is starting to impact prices.

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2次降息溫哥華房市不升反降 價格跌到一年前

2024年7月的銷售數據顯示，當月成交量為2,333宗，較上月下降了3.5%，相比去年同期也下滑了5%。儘管利率有所下調，但市場並未因此得到提振，主要原因包括經濟不確定性和貸款審批標準更加嚴格。

新掛牌量在7月份達到5,597宗，較去年增加了20%，整體上市數量比2023年上升了40%。目前市場庫存達到6.14個月，正式進入買方市場。房價指數首次低於2023年水平，同比下降1.1%，顯示出市場的冷卻開始對價格產生影響。

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