![\"vancouver-home-sales\"](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2020\/12\/vancouver-home-sales-1.jpg\")
<\/a>Photo:\u00a0Mike Benna<\/a>\/Unsplash<\/a><\/em><\/p>\nWhile home buying activity in the Vancouver region is slowing down ahead of the holidays, it\u2019s still on track to exceed home sales totals recorded in December 2019 and 2018.<\/p>\n
There have been 1,492 home sales in the first two weeks of the month, down slightly from the 1,505 sales posted during the same time in November. That two-week total is already more sales than the market achieved during the entire month of December 2018. At the current rate of sales, it\u2019s also expected to beat December 2019\u2019s total of 2,046 transactions.<\/p>\n\n
Dexter Realty Managing Broker Kevin Skipworth published the mid-month home sales data for the Vancouver region this week through an email market update.<\/p>\n
With record low mortgage rates being offered by lenders along with elevated rates of household savings, Skipworth said the heat being felt in the Vancouver housing market shouldn\u2019t come as a surprise.<\/p>\n
His chief concern is the low supply levels available to buyers in the market.<\/p>\n
\u201cAs we move through December it\u2019s becoming clear that there again are just not enough properties available for sale. Multiple offers are still occurring and properties that had been on the market for longer periods of time are seeing offers and sales come their way for Christmas,\u201d Skipworth said.<\/p>\n
There have been more sales than new listings in many of the region\u2019s markets, including North Vancouver, New Westminster and Coquitlam, according to Skipworth.<\/p>\n
\u201cThere will be less than 10,000 properties available for sale come the start of 2021, the question is how far below that mark will it be?\u201d he asked.<\/p>\n
Skipworth\u2019s declining inventory concerns were shared by Royal LePage Sterling Realty Managing Broker Randy Ryalls in the brokerage\u2019s Vancouver region forecast for 2021 released earlier this week.<\/p>\n
\u201cWe are seeing multiple offers on almost every reasonably-priced detached listing. There simply isn\u2019t enough inventory to meet the demand,\u201d said Ryalls.<\/p>\n
\u201cA balanced Vancouver market has about 15,000 active listings available. Right now, we\u2019re sitting at roughly 10,000. If we reach the end of January without an injection of inventory, we will continue to see upward pressure on prices in the spring. I expect a strong seller\u2019s market in 2021,\u201d he continued.<\/p>\n
While home buying activity in the Vancouver region is slowing down ahead of the holidays, it\u2019s still on track to exceed home sales totals recorded in December 2019 and 2018.<\/p>\n","protected":false},"author":5,"featured_media":211519,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","apple_news_api_created_at":"2020-12-16T17:35:21Z","apple_news_api_id":"3dad0ca2-a2d9-4b89-b2b1-2e46f71542bb","apple_news_api_modified_at":"2020-12-16T17:35:21Z","apple_news_api_revision":"AAAAAAAAAAD\/\/\/\/\/\/\/\/\/\/w==","apple_news_api_share_url":"https:\/\/apple.news\/APa0MoqLZS4mysS5G9xVCuw","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_is_hidden":false,"apple_news_is_paid":false,"apple_news_is_preview":false,"apple_news_is_sponsored":false,"apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"middle","apple_news_slug":"","apple_news_sections":["https:\/\/u48r14.digitalhub.com\/sections\/09b86915-7d2b-3acd-915b-b215002d01b7"],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[11269],"tags":[],"coauthors":[8652],"apple_news_notices":[],"yoast_head":"\n