How has COVID-19 been affecting Metro Vancouver’s housing market so far?
When the provincial government first declared a state of emergency in response to the COVID-19 pandemic, Metro Vancouver’s housing market saw a sharp decline in both sales and listings activity.
Since then, home buyers and sellers have become more comfortable operating within the physical distancing and other safety protocols in place.
Home buyers and sellers have gradually become more active in each month of the COVID-19 pandemic. In June, home sale and listing activity in Metro Vancouver returned to more historically typical levels.
While demand declined during the beginning of the physical distancing period, so did supply. This kept supply and demand levels in relative alignment, which allowed prices to remain stable.