In September, the Metro Vancouver housing market experienced a slowdown in price gains compared to earlier in the year. This was due to a decrease in sales and a slight increase in the number of homes available for sale in the region.
The Real Estate Board of Greater Vancouver reported that residential home sales totaled 1,926, which was a 13.2% increase from the same month last year but still 26.3% below the 10-year average.
One reason for this slowdown is homeowners' reluctance to list their homes because of high mortgage rates. As a result, inventory levels remained low, causing prices to rise throughout the spring and summer months.
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