COVID-19 Slows Vancouver Property Market

COVID-19 Slows Vancouver Property Market
07/05/2020 , by , in INTERNATIONAL

Vancouver real estate had its quietest April in nearly four decades as coronavirus put the typically busy spring market into slow motion. The Real Estate Board of Greater Vancouver (REBGV) says 1,109 properties changed hands in April 2020 — a 39.4 per cent decrease from April 2019. It’s also 62.7 per cent below the 10-year April sales average and the lowest total for the month since 1982. There was a 56 per cent drop compared to March of 2020, when 2,524 homes were sold. Listings fell to 2,313, a 59.7 per cent drop compared to the 5,742 homes listed in April 2019.

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