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Metro Vancouver House Sales Are At Its Lowest Since The 1980’s

Vancouver Empty Home Tax U.S.

Photo: Paul Hanaoka

Vancouver may have a reputation for its pricy real estate, but the city is seeing house sales at its lowest since the 1980’s.

The Real Estate Board of Greater Vancouver said there has been a drop in sales by nearly 40% in April, compared to this time last year.

RELATED: COVID-19 Cases In B.C. Could Drop To 0 By July 1: Dr. Bonnie Henry

The sales total was 62.7% below the 10-year average for April. And it’s the lowest total for the month since 1982.

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This comes during the pandemic, where many people are staying at home. The economy has slowed down significantly in all areas, but the government is looking to reopen the economy soon.

House sales are expected to remain low over the summer, as people continue to social distance.

For more B.C. real estate stories, head to our Real Estate section.

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