First Market Update of 2022!
  
Metro Vancouver home sales reached an all-time high in 2021 as housing needs remained a top priority for residents in the second year of the COVID-19 pandemic.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 43,999 in 2021, a 42.2% increase from 2020, and a 73.6% increase from 2019. Both detached home and townhome benchmark prices increased 22% in the region last year, while apartments increased 12.8%.
“Home has been a focus for residents throughout the pandemic. With low interest rates, increased household savings, more flexible work arrangements, and higher home prices than ever before ” Keith Stewart, REBGV economist said.
“We begin 2022 with just over 5,000 homes for sale across the region. This is the lowest level we’ve seen in more than 30 years,” Stewart said. “With demand at record levels, residents shouldn’t expect home price growth to relent until there’s a more adequate supply of housing available to purchase.”
To better understand the latest home price trends in your preferred location and home type, talk with your local REALTOR® today! 📞 604-787-4691 ✉️ adam@adamlloyd.ca
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