Prices continue rising across Metro Vancouver as home buyer confidence returns
Home sales in Metro Vancouver are on the rise, and prices continue to increase. Despite a decrease in sales compared to last year, homebuyers are returning with confidence after a challenging period. The limited supply of homes is creating competitive conditions and driving price escalation. The current market shows a rebound in sales, with prices already up by 5% year-to-date. The MLS® Home Price Index indicates a benchmark price increase for all residential properties. Detached homes have a benchmark price of $1,915,800, apartments have a benchmark price of $752,300, and attached units have a benchmark price of $1,078,400. The overall trend suggests a positive outlook for the real estate market in Metro Vancouver.