Vancouver Residential Real Estate Market | May 2021

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Metro Vancouver Market Update April 2021

THE MARKET

Metro Vancouver’s housing market has observed increased seller activity in response to the increasing demand and rising home values. The emerging housing market trends in 2021 witnessed a competitive buyer’s market and consistent growth in home sales.

April 2021’s market report from the Real Estate Board of Greater Vancouver (REBGV) shows a whopping 342.6% increase in residential home sales. The sales skyrocketed from 1,109 homes in April 2020 to 4,908 homes sales recorded in April 2021. Last month’s sales were 56.2% above the 10-year April sales average and is the highest total on record for the month.

“Our housing market has changed considerably from one year ago when COVID-19 concerns brought activity to a near standstill,” noted Keith Stewart, REBGV economist. “This was followed by a well-documented spike in home buyer demand across the region. So far this spring, we’ve seen a corresponding supply response from home sellers.”

Vancouver Residential Real Estate Update May 2021

Tags: real estate resources, Vancouver Neighbourhoods

David Chen PREC

posted on May 24, 2021

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