![\"\"](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2021\/11\/aditya-chinchure-Bs_ac8eRkME-unsplash.jpg\")
<\/a>Photo: Aditya Chinchure<\/a> \/ Unsplash<\/a><\/em><\/p>\nVancouver\u2019s housing inventory keeps plummeting, leading industry experts to wonder how low supply levels can go.<\/p>\n
Dexter Realty recently released its Mid-November Greater Vancouver Sales and Listing Report, reporting a total of 8,125 active listings in the region, a steep decline from 12,482 at this time last year and 11.4 per cent lower than mid-October (9,161).<\/p>\n
The shallow supply levels have entered record-breaking territory, dipping below Dexter\u2019s lowest historical figure for this time of year \u2014 8,700 active listings in November 2003. Only 2,142 new listings have hit the market in November, down from 2,231 at the mid-point of October and 2,211 at the mid-point of November 2020.<\/p>\n
\u201cThere continues to be a hesitation for sellers to come on the market as finding the next home when you sell continues to be the bigger challenge,\u201d Dexter Realty partner and chief economist Kevin Skipworth stated in the report. \u201cThose looking for detached homes don\u2019t have the luxury of more product coming from developers. This is and will continue to be a dwindling stock.\u201d<\/p>\n\n
Despite the supply issues, a recent influx of residents shows no signs of slowing down. The Canadian government reported 45,040 people were granted permanent residency nationwide during September, up 19 per cent from the previous month. Many of those newcomers are calling British Columbia home, as the province welcomed 8,300 new permanent residents in September, second only to Ontario (21,730).<\/p>\n