If you were hoping 2019 would kick off with a booming real estate market… well, it’s not going so well.
“After three or four years of a very robust market and escalating prices, this certainly seemed to be a year of transition. We went from more of a sellers’ market, to a balanced market, and now — a buyers’ market.”
The drop in benchmark price for a detached home accompanied a drastic slump in sales, year-over-year.
The total number of homes sold across Metro Vancouver in 2018 dropped 31.6 percent from 2017, with 24,619 transactions.
That’s the lowest number recorded in the region since 2000, and 25 percent below its 10-year average.
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