Andrew Lis, the Director of Economics & Data Analytics at the Real Estate Board of Greater Vancouver, discusses the troubling real estate landscape in Vancouver. He reveals a 20% increase in new listings year-over-year and a significant drop in transactions. With two recent Bank of Canada rate cuts, what does this mean for the fall market? Lis emphasizes the need to understand changing buyer behaviors, the impact of inventory spikes, and how shifting market dynamics could affect future housing prices.
