June 2016 Market Update
There was a lot of strength in the June numbers. Across the board, prices were up…in some cases extraordinarily so (+8.31% month-to-month for Townhouses). However, a few cracks are beginning to appear. Specifically, we are starting to see a divergence between what’s happening for condos vs houses in Vancouver. Weakness has appeared in the house market (inventory building and sales slowing…see months of inventory stats in the infographic) while the opposite continues to hold true for condos. This may very well just be a seasonal slowdown as families with school-aged children (the ones most likely to be buying houses) take a break from house hunting to enjoy summer vacation…but it’s something to watch in the coming months.