Metro Vancouver's December 2022 Market Insight

In 2022, rising mortgage rates created uncertainty and caution in the Metro Vancouver housing market.

Following a year of record sales and prices during the pandemic, Metro Vancouver's housing market experienced a year of caution in 2022 as a result of rising borrowing costs fueled by the Bank of Canada's ongoing battle with inflation.

According to the Real Estate Board of Greater Vancouver (REBGV), regional residential home sales totaled 28,903 in 2022, a 34.3 percent decrease from the 43,999 sales recorded in 2021 and a 6.6 percent decrease from the 30,944 homes sold in 2020.

See Market Snapshot for more detailed, up-to-date statistics on your neighbourhood.