Vancouver home sales continue falling in April amid trade war: board
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Hey there, time traveller!
This article was published 02/05/2025 (328 days ago), so information in it may no longer be current.
VANCOUVER – Vancouver home sales activity was down again in April as the city’s real estate board says some buyers are likely trying to “patiently wait out the storm” with the ongoing Canada-U.S. trade war.
Greater Vancouver Realtors says residential sales in the region totalled 2,163 last month, a 23.6 per cent decrease from the 2,831 sales recorded in April 2024 and 28.2 per cent below the 10-year seasonal average.
There were 6,850 newly listed properties on the market, a 3.4 per cent decrease from April 2024, but still 19.5 per cent above the 10-year seasonal average for the month.
Total active listings rose 29.7 per cent year-over-year to 16,207.
Greater Vancouver Realtors director of economics and data analytics Andrew Lis says the sales slowdown would seem unusual given the backdrop of improved borrowing conditions, but “what’s also unusual is starting the year with Canada’s largest trading partner threatening to tilt our economy into recession via trade policy.”
The composite benchmark price in April was $1,184,500, down 1.8 per cent from a year earlier and 0.5 per cent lower than March.
This report by The Canadian Press was first published May 2, 2025.