Those looking for Vancouver home prices to continue the downward trend may be in for a rude awakening as Vancouver’s real estate market showed signs of strength in the month of May.
- See Also:
Whether or not we have hit bottom in the Vancouver’s housing market is yet to be known. That is something that simply can not be be predicted.
The Canadian Real Estate Association (CREA) latest report indicates that Metro Vancouver boosted the national average resale home price for the first time since 2011.
CREA report states:
- Metro Vancouver home resales were up 8.4% from the previous month
- Metro Vancouver home resales were up 1.4% from a year earlier
- The average price is $733,000, up 5.4% from a year ago and 1.4% higher than April.
Image by coreymaaskant