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The Vancouver Real Estate Market: Inventories fall to lows not seen since 2016

The Vancouver Real Estate Market: Inventories fall to lows not seen since 2016

VANCOUVER –

A recently published report indicates that the stock of the real estate market in Vancouver has reached a low point that has not been seen since 2016.

The Q3 report, released Thursday morning by the Greater Vancouver Real Estate Agency, noted that the number of active listings was low during the summer months, a trend that is not exactly new in the region.

“Since the last half of 2019, the total portfolio of homes for sale on the market has been in operation at a near historic low despite higher sales and a new listing,” REBGV wrote.

Still, record highs for sales and inventories were noted in March this year.

“The growing correlation between sales and new pandemic inventories is consistent with more buyers selling their current homes and buying other, typically larger, homes,” the board said.

It described the trend board members since the beginning of 2021, when the market “calmed down”.

This is a news in development and will be updated. Read the full report on REBGV’s website.

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