Vancouver Has Elevated Home Sale Activity

Elevated home sale activity in September continued to outstrip the supply of homes in Metro Vancouver, BC, says the Real Estate Board of Greater Vancouver (REBGV). Residential home sales in the region had a 13.6 per cent decrease year-over-year and a 0.1 per cent decrease from homes sold in August. Overall, September’s new listings were 1.2 per cent below the 10-year average for the month. Additionally, for detached, attached, and apartment properties newly listed for sale in Metro Vancouver for September, there was a 19.2 per cent decrease year-over-year and a 28.2 per cent increase compared to August. The total number of homes currently listed for sale had a 29.5 per cent decrease from September 2020 and a 2.6 per cent increase from August 2021. However, “we’re not seeing the same upward intensity on home prices today as we did in the spring,” says Keith Stewart, economist at REBGV.