Bryan Yu: Metro Vancouver home sales sink to near 25-year low
Business Intelligence for B.C.
AI Article Summary
Home sales in Metro Vancouver have plummeted to levels not seen in nearly 25 years. This downturn is particularly pronounced in the apartment and townhouse markets, which have experienced the most significant annual declines in prices.
What This Means for Canadian Contractors
For Canadian builders, this means potential delays in securing permits as lower sales volumes may affect timelines and project funding. It also puts pressure on the prefab and construction supply chains, as reduced demand might impact order volumes. Additionally, labor resources might see a redistribution as new projects become scarce due to diminishing housing demand.
