Low supply and snow limit Vancouver-area home sales in February
VANCOUVER — Home sales across the Vancouver area were down dramatically in February compared with last year’s record-breaking pace, while prices across the region remained more stable.
The Real Estate Board of Greater Vancouver says a limited supply of listings and an unusually snowy start to the year affected the market.
It says residential sales totalled 2,425 in February, an almost 42-per-cent plunge from February 2016. But sales in February were up about 59 per cent from January.
The board says the number of properties that changed hands was 7.7 per cent below the 10-year sales average for February.