Home buyers and sellers adjust their activities in March amid challenging circumstances

Metro Vancouver’s* housing market saw steady home buyer demand to begin March and a levelling off of activity as the month went on and concerns about the COVID-19 outbreak intensified.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,524 in March 2020, a 46.1 per cent increase from the 1,727 sales recorded in March 2019, and a 17.4 per cent increase from the 2,150 homes sold in February 2020.

Last month’s sales were 19.9 per cent below the 10-year March sales average.

“The first two weeks of the month were the busiest days of the year for our region with heightened demand and multiple offers becoming more common. Like other aspects of our lives, this changed as concerns over the COVID-19 situation in our province grew.”
Ashley Smith, REBGV president
Daily residential sales on the region’s MLS® were 138 on average in the first ten business days of the month. In the final ten business days of the month, the daily average declined to 93 sales.

“Many of the sales recorded in March were in process before the provincial government declared a state of emergency. We’ll need more time to pass to fully understand the impact that the pandemic is having on the housing market,” Smith said.

“In recent weeks, REALTORS® have been working to help and guide their clients through this uncertain period. Many people have understandably chosen to put their home buying or selling plans on hold for now. Other people have more urgent housing needs and we’re trying to work with them to address these needs in the safest and most responsible way possible.”

There were 4,436 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in March 2020. This represents a 10.4 per cent decrease compared to the 4,949 homes listed in March 2019 and a 10.8 per cent increase compared to February 2020 when 4,002 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 9,606, a 24.8 per cent decrease compared to March 2019 (12,774) and a 4.5 per cent increase compared to February 2020 (9,195).

“Realtors were named among the province’s list of essential services last week,” Smith said. “This means that we have a responsibility to do what we can to help residents meet their housing and shelter needs while strictly following the most up-to-date public health orders and physical distancing requirements from our health officials and government agencies.”

メトロバンクーバーの住宅市場では、住宅購入者の3月の需要が着実に伸び、月が進むにつれて活動は横ばいになり、COVID-19の発生に対する懸念が高まりました。

グレーターバンクーバーの不動産委員会(REBGV)によると、この地域の住宅販売は2020年3月の合計で2,524件であり、2019年3月に記録された1,727件の販売から46.1%増加し、2月に販売された2,150件の住宅から17.4%増加しました。

「今月の最初の2週間は最も需要が高まり、複数のオファーが入る傾向が見受けられました。しかしそれはCOVID-19状況への懸念が高まるにつれて変化しました。」(REBGV社長、Ashley Smith)

地域のMLS®の1日あたりの住宅販売は、月の最初の10営業日で平均138でした。その月の最後の10営業日では、1日の平均は93の売上に減少しました。

「3月に記録された販売の多くは、州政府が緊急事態を宣言する前に進行中でした。パンデミックが住宅市場に与えている影響を完全に理解するには、さらに時間が必要です」とスミス氏は述べました。

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