What does first quarter activity say about Metro Vancouver’s housing market in 2022?
REBGV Economist Keith Stewart assesses Metro Vancouver's housing market activity over the first quarter of 2022, so far, and projects what home sale, listing, and price activity you can expect in the region throughout the year.
Here are the highlights:
- Prices have continued to rise in the first quarter.
- Listings remain stubbornly scarce in the early part of 2022, but inventory won't build until sales begin to fall.
- Sales are expected to fall from 2021 levels because of deteriorating affordability.
- Prices are expected to rise overall in 2022, but price growth will slow in the second half of the year.
- Mortgage rates are expected to rise, and the stress-test rate is expected to remain flat in 2022.
This comprehensive report will help improve your understanding of the fundamental measures that drive the housing market in Metro Vancouver today.