Vancouver home sales down 15% in November from last year as prices move lower: board
Business Intelligence for B.C.
AI Article Summary
Home sales in the Vancouver area decreased by 15% in November compared to the previous year. Despite plentiful inventory, both sales and home prices in the region are experiencing declines. November saw a total of 1,846 homes sold, highlighting a subdued market.
What This Means for Canadian Contractors
The drop in home sales in Vancouver suggests a potential slowdown in the residential construction market, which could impact timelines for new housing developments. For Canadian builders, this means a possible adjustment in project pipelines and planning as market demand shifts. Furthermore, reduced prices might affect funding and investment strategies in upcoming projects.
