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Home > CANADA > Homes listed for sale in Metro Vancouver have fallen to lows not seen since 2016 – Business News

Homes listed for sale in Metro Vancouver have fallen to lows not seen since 2016 – Business News

Homes listed for sale in Metro Vancouver have fallen to lows not seen since 2016 – Business News

Housing prices plateau

The Canadian Press – | History: 345969

The Greater Vancouver Real Estate Agency says home sales are flat after reaching record highs in March.

In its third quarter 2020 housing survey, it says the number of homes listed for sale in Metro Vancouver has dropped to lows not seen since 2016.

The board says that new homes have continued to be built during the pandemic with a specific focus on projects for the rental market.

It says the Metro Vancouver job market continues to recover, but the recovery will be slower in the future.

The report says vacancies are high in the lower mainland compared to other cities in the country and a large increase in housing supply is needed to close the gap.

The board says inventories and sales across the region are expected to reflect long-term averages by the start of the fourth quarter, and any increase in the number of homes for sale will be “at a rate far below historical standards.”

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