Market Update - Home buyers and sellers adjust their activities in March amid challenging circumstances

April 2, 2020

News Release of Real Estate Board of Great Vancouver.

Metro Vancouver’s housing market saw steady home buyer demand to begin March and a levelling off of activity as the month went on and concerns about the COVID-19 outbreak intensified. 

 The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,524 in March 2020, a 46.1 per cent increase from the 1,727 sales recorded in March 2019, and a 17.4 per cent increase from the 2,150 homes sold in February 2020. 

 Last month’s sales were 19.9 per cent below the 10-year March sales average. 

 “The first two weeks of the month were the busiest days of the year for our region with heightened demand and multiple offers becoming more common,” Ashley Smith, REBGV president said, “Like other aspects of our lives, this changed as concerns over the COVID-19 situation in our province grew.” 

Please contact your local Realtor for more details. 

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