Vancouver real estate is seeing the largest drop in new listings in the country. Numbers from the Canadian Real Estate Association (CREA) show the city’s decline is the highest ratio of any urban center. The drop is followed by a bigger drop in sales however. This is dragging the sales to new listings ratio closer to a balanced market.
New Listings Drop Over 14% In Vancouver
Vancouver is the urban centre with the highest drop in new listings. The region had 35,395 new listings year-to-date ending in July, a 14.1% decline compared to last year. This makes it the largest relative drop across Canada.Canadian Residential New Listings Change (YTD)