HOME SALES AND LISTINGS DOWN AMID COVID-19, NEW TOOLS AND PRACTICES EMERGE TO HELP BUYERS AND SELLERS ADAPT
(May 4, 2020) www.RealtyLink.org
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While Metro Vancouver* home sale and listing activity remains limited by the COVID-19 situation, REALTORS® across the region are fast adopting new tools and practices to help advise and serve their clients in a responsible way. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,109 in April 2020, a 39.4 per cent decrease from the 1,829 sales recorded in April 2019, and a 56.1 per cent decrease from the 2,524 homes sold in March 2020. Last month’s sales were 62.7 per cent below the 10-year April sales average and was the lowest total for the month since 1982. Realtors have been named an essential service by the provincial government to help the home buying and selling community meet their housing needs during the pandemic. “We’re seeing more innovation in today’s market, with Realtors using different technology to showcase homes virtually, assess neighbourhood amenities with their clients and handle paperwork electronically,” Gerber said.
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