News: Vancouver Real Estate Market

First quarter regional highlights:

• Addressing chronically low inventory critical in solving nation's housing affordability crisis
• Aggregate price of a home in Canada rose 14.1% year-over-year in the first quarter of the year
• 67% of the 64 markets surveyed posted double digit year-over-year aggregate home price gains
• Montreal's aggregate home price forecast to increase 16% year-over-year; the highest in Canada among forecasted regions

TORONTO, April 13, 2021 – According to the Royal LePage House...

Home buyer and seller activity reached unprecedented levels across Metro Vancouver in March.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 5,708 in March 2021, an increase of 126.1% from the 2,524 sales recorded in March 2020, and an increase of 53.2% from the 3,727 homes sold in February 2021.

Last month's sales were 72.2% above the 10-year March sales average and is the highest monthly sales total ever recorded in the region....