Vancouver Hasn’t Seen This Few Homes Change Hands Since 2013
- Resales drop 8.6% on month while benchmark prices rise 1.1%
- Provincial regulations could crimp market into 2019, TD says
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Home sales in Canada’s third-largest city are still declining after the provincial government introduced new housing measures earlier this year.
Sales in Greater Vancouver fell 8.6 percent in March from a month earlier to 2,108 transactions, the fewest since 2013, data released Friday by the Canadian Real Estate Association show. That’s in contrast to the broader Canadian market, which showed signs of stabilizing in March. Aggregate prices in Vancouver still ticked up, rising 1.1 percent on the month.