This headline in The National Post catches the attention of anybody involved or about to be involved in the housing market: 
The benchmark is the average home price. The economist who prepared the report also said it’s important to keep things in perspective.
“Housing prices rise month over month for the first time in 10 months”
The source of this mildly optimistic outlook is the National Bank of Canada and it’s based on the monthly Teranet-National Bank Composite Home Price Index. It compares March 2023 to March 2022 and what it found was that in four of the 11 major Canadians cities it tracks, the price of homes went up. Vancouver was one of the four cities.
The benchmark is the average home price. The economist who prepared the report also said it’s important to keep things in perspective.“I think we will have to wait until after spring to assess if there is a pick up in the real estate market,” Daren King told The Post.
It’s also logical to assume that the low number of listings is contributing to the increase.
See a five-year apples-to-apples comparison of Metro Vancouver “sales” and “prices” in the upcoming May issue of News From Nexus, the newsletter distributed during the first week of every month.
See a five-year apples-to-apples comparison of Metro Vancouver “sales” and “prices” in the upcoming May issue of News From Nexus, the newsletter distributed during the first week of every month.