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.”
