Supply of homes steadily declined over the summer
Buyers remain active in Metro Vancouver but supply is not keeping up with demand as listings have been declining since June.
Home sales are up 3.4 % compared with August 2020 but down 5.2 % from July of this year. Even with the lack of supply, last month’s sales were 20.4 % above the ten year average in what is traditionally a slower month. It appears that in this election year that politicians are starting to put more focus on addressing housing supply issues that we have been facing for several years and hopefully more will be done to meet buyer demand as we move forward.