As we near the end of 2021, home buyer demand
remains well in excess of long-term averages and the supply of homes for sale continues to
decline across Metro Vancouver’s*housing market.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential homesales in the
region totalled 3,428in November2021, an 11.9per centincreasefrom the 3,064sales recorded
in November2020, and a 1.9per cent decreasefrom the 3,494homes sold inOctober2021.
Last month’s sales were 33.6per cent abovethe 10-year Novembersales average.
“We expect home sale totals to end the year at or near an all-time record in our region,” Keith
Stewart,REBGV economist said. “We’ve had elevated home sale activity throughout 2021
despite persistently low levels of homes available for sale. With a new year around the corner,
it’s critical that this supply crunch remains the focus for addressing the housing affordability
challenges in our region.”
There were 3,964 detached, attached and apartment properties newly listed for sale on the
Multiple Listing Service® (MLS®) in Metro Vancouver in November2021. This represents a
2.6per cent decrease compared to the 4,068homes listed in November2020and a 2.1per cent
decrease compared to October2021when 4,049homes were listed.