Tuesday, December 03, 2019
After a quieter first half of 2019, home buyer activity has returned to more historically typical levels in Metro Vancouver*.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,498 in November 2019, a 55.3% increase from November 2018, and a 12.6% decline from October 2019.
Last month’s sales were four per cent above the 10-year November sales average.
"We started to see more home buyer confidence in the summer and this trend continues today. It’ll be important to watch home listing levels over the next few months to see if supply can stay in line with home buyer demand." Ashley Smith, REBGV president
There were 2,987 detached, attached and apartment homes newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in November 2019. This represents a 13.7% decrease compared to November 2018 and a 26.7% decrease compared to October 2019.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 10,770, a 12.5% decrease compared to November 2018 and a 12% decrease compared to October 2019.