Vancouver real estate market Inventory dips to lows not seen since 2016

Vancouver

2021/09/22

According to REBGV Q3 analysis, the number of active listings over the summer months reached a low not seen since 2016. Since 2019, sales total inventory reached a historic low, despite higher-than-typical sales and new listing activity, hence last month’s figure ↑ 0.1% MoM from $1,175,500. The increasing correlation between sales and new listings over the pandemic is consistent with more buyers selling their current homes and purchasing another larger home. According to the BCREA Sept. report, total active residential listings ↓ 37.9% YoY, 42% below normal levels.An upward pressure due to above-avg sales volumes, coupled with the low inventory, is forecasted.