Burnaby housing prices continued downward trend in September, report says

September 2022 housing sales represent 46.4 per cent drop compared to the same month in 2021.

According to the Real Estate Board of Greater Vancouver's September report, housing prices in Burnaby continued to dip as inflation and interest rates continue to rapidly rise.

“With the Bank of Canada and other central banks around the globe hiking rates in an effort to stamp out inflation, the cost to borrow funds has risen substantially over a short period,” Real Estate Board of Greater Vancouver director of economics and data analysis Andrew Lis said in a news release.

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