Vancouver, BC – June 15, 2020.
The British Columbia Real Estate Association (BCREA) reports that a total of 4,518 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in May 2020, a decline of 45.2 per cent from May 2019.
With many markets across the country heading into 2020 with gusto, the COVID-19-pandemic has had an abrupt cooling effect upon real estate Canada-wide. Sales volume, listings, and demand are all showing obvious month-over-month dips; impacts of precautionary social distancing measures, and a national economy on pause.
Yet, not all hope is lost. There is a great deal of optimism that, should events unfold according to the predictions of the country’s public health officials, we may witness a slow crawl…