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Vancouver real estate: January home sales slow as supply dwindled, board says

News and Article

The B.C. board says home sales totalled 2,285 las month, an almost five per cent decrease from 2,389 in January 2021

However, the board says sales last month were 25.3 per cent above the 10-year January average.

The board’s economist Keith Stewart says conditions in the market remain tight because there is a lack of supply and a lot of people taking advantage of low interest rates.

homebuyers have limited choice in the market today

“This trend is causing fierce competition for a scarce number of homes for sale, which, in turn, increases prices.”

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