Vancouver home sales fall

Greater Vancouver's real estate board reported a 19.1% drop in home sales in June compared to last year, with inventory levels not seen since 2019. Metro Vancouver saw a 42% increase in homes listed for sale. Calgary also experienced a 12.8% decrease in home sales, with prices up 8.5% from last year. The U.S. economy and job market have remained strong despite the Fed's efforts to raise interest rates. Insolvency levels have been rising, and both goods-producing and services sectors have shown growth. Rental housing is gaining popularity due to demographic shifts and high home prices.