How did VIREB's June housing market perform? Sales are still somewhat lacklustre throughout the board area, with June's numbers dipping by seven per cent year over year and 11 per cent from May.

Weak housing demand has also contributed to an increase in total active residential listings across the province. In the VIREB area, inventory of single-family homes in June rose by 20 per cent from one year ago. Active listings of apartments climbed by 14 per cent year over year while townhouse inventory decreased by three per cent.

The benchmark price of a single-family home board-wide was $514,400 in June, a four per cent increase from one year ago and slightly higher than in May. In the apartment category, the benchmark price climbed to $304,300 from one year ago while the benchmark price of a townhouse hit $446,800 last month.