Thanks for taking the time to look at my monthly real estate update for South Delta and the Real Estate Board of Greater Vancouver (REBGV).
Here is a link to the complete set of charts and graphs – it may be useful to refer to them as you read through this piece!
Sales levels remain very active at 13.3% above the 10 year average but are moderating from the strong pace of earlier this year.
Listings, however, seem to be scarce and at the end of July were 12.3% below the 10 year average.
Prices appear to be leveling:
The presence of the Covid pandemic created unique cirmumstances that have driven market conditions for the past 18 months.
Looking forward watch for further effects as:
- increased vaccination levels giving a larger demographic cohort the comfort and confidence to engage in more public events such as listing their property for sale. Will this increase and thus moderate the current supply shortage?
- immigration returns, possibly next year, after essentially a 2 year absence – adding further demand for housing
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