Strong December activity brought Metro Vancouver’s 2020 home sales total in line with the region’s long-term annual average.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 30,944 in 2020, a 22.1 percent increase from the 25,351 sales recorded in 2019, and a 25.7 percent increase from the 24,619 homes sold in 2018.
Last year’s sales total was 2.8 percent below the 10-year sales average.
“After adapting to the COVID-19 environment, local home buyer demand and seller supply returned at a steady pace throughout the summer, fall and winter seasons,” Gerber said. “Shifting housing needs and low-interest rates were key drivers of this activity in 2020. Looking ahead, the supply of homes for sale will be a critical factor in determining home price trends in 2021.”
For full market update visit www.rebgv.org