June 2022 – Lower Mainland Monthly Update (REBGV & FVREB)
Metro Vancouver & Fraser Valley sales have continued to decelerate.
The most reliable indicator of market prices is the Sales to Active Listings Ratio (SAL). This is the ratio between the number of sales in a given month and the number of active listings at month-end.
In hotter markets in BC, a long-term analysis has shown that prices will usually act in the following ways:
- 7+ Months of Inventory (Under 14% SAL): Prices will likely DECLINE
- 5 – 7 Months of Inventory (14% – 18% SAL): Prices will likely be STABLE
- Less than 5.5 Months of Inventory (Over 18% SAL): Prices will likely RISE
Sales in the Lower Mainland continue to decelerate. Monthly sales fell below the 10-year average (4,278 sales vs 5,269 average)
Cumulative Year-to-date Sales
Year-to-Date sales remain above the 10-year average (24,914 sales vs 22,266 average)
Inventory remains stubbornly low, coming in at 20% below the 10-year average (16,193 listings vs 20,465 average)
Sales to Active Listings
Sales to Active Listings continues to drop, and now sits at 26%, indicating stabilizing prices.
Months of Inventory
Months of Inventory continues to grow, and now sits at 3.8, but still below the 10-year average of 4.4.