Home sales were down eight per cent in June\u00a0compared to\u00a0last year. The latest report from the Vancouver Island Real Estate Board (VIREB) says 782 units changed hands last month.\u00a0<\/p>\n
Active listings of all property types on the island were up two per cent in June over last year.\u00a0<\/p>\n
Single-family home sales were down 12 per cent from a year ago, while condos were up 11 per cent. \u00a0<\/p>\n
There were fewer single-family homes on the market last month compared to the previous year, with 1,501 listings this year and 1,527 last.\u00a0<\/p>\n
\u201cConsumer confidence appears to be affected by economic uncertainty and many buyers seem to be taking a cautious, wait-and-see approach before making a decision to purchase,\u201d says Jason Yochim, VIREB chief executive officer.\u00a0<\/p>\n
He adds\u00a0well-priced homes are still gaining\u00a0interest\u00a0and buyers do not have a large appetite for over-priced listings.\u00a0\u00a0<\/p>\n
\u201cWe\u2019re still seeing activity on appropriately priced properties, including some multiple-offer situations,\u201d says Yochim. \u201cBut buyers are being more measured, so sellers need to be realistic in today\u2019s market. For buyers considering downsizing to a condominium, there are some good opportunities.\u201d\u00a0\u00a0<\/p>\n
The benchmark price for a single-family home on the island was\u00a0$790,80 in June.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Home sales were down eight per cent in June\u00a0compared to\u00a0last year. The latest report from the Vancouver Island…\n","protected":false},"author":2,"featured_media":779411,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[194298],"tags":[49,48,968,38332,2008,55,36245],"class_list":["post-779410","post","type-post","status-publish","format-standard","has-post-thumbnail","category-vancouver","tag-ca","tag-canada","tag-real-estate","tag-regional","tag-top-story","tag-vancouver","tag-vancouver-island"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/779410","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=779410"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/779410\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/779411"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=779410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=779410"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=779410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}