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June 2014 Market update

VANCOUVER, B.C. July 3, 2014 The Greater Vancouver housing market enters the summer season with home buyer activity on the rise. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,406 on the Multiple Listing Service(MLS) in June 2014. This represents a 28.9 per cent increase compared to the 2,642 sales recorded in June 2013, and a 3.7per cent increase compared to the 3,286 sales in May 2014. Last months sales were 0.6 per cent above the 10-year sales average for June of 3,386. Competition amongst home buyers today is as strong as its been in the region since 2011, Ray Harris, REBGV president said. The sales-to-active-listings ratio currently sits at 21.3 per cent in Greater Vancouver, which is the highest this measure has been since June 2011.