The next release of the real estate statics for Metro Vancouver — due the first week of December — is going to be even more interesting than usual. After watching home sales stabilize and then rise throughout the first nine months of COVID-19, the story might be a little different for November.
According to a story in the Financial Post this week, national home sales dropped for the first time since April. The change was small (0.7 per cent from the previous month), yet it could be a sign that the affects of pent-up demand, smaller inventory and low interest rates are less impactful.
However, that’s a national story, and one about home sales in October.
For the same month, the Real Estate Board of Greater Vancouver reported (as relayed to you in News From Nexus) an increase in home sales of 1.2 per cent, also from the previous month. That’s almost 2 per cent higher than the national decrease.
So it will be interesting to see if this is the beginning of a trend. The statistics, as always, will be in the December issue of News From Nexus. It’s available to all just by signing up at the bottom of this page, or any page on the Nexus Realty Corp. website.
It will be in your e-mailbox shortly after the REBGV’s monthly stats release.