Vancouver area sees autumn boom in housing market: Royal LePage
Downtown Vancouver is seen from Chopper 9. (Gary Barndt / CTV Vancouver)
VANCOUVER -- Royal LePage says a pandemic-induced lull in home sales across Metro Vancouver earlier this year has produced an autumn boom in the housing market.
The latest house price survey and a market survey forecast from the real estate franchisor reveal pent up demand continues to fuel record sales across the region and prices are climbing as a result.
Royal LePage says the third quarter saw the aggregate price of a Greater Vancouver home jump 4.4 per cent year-over-year to just over $1.1 million -- with a 4.5 per cent hike forecast in the fourth quarter.
Strongest demand is for detached homes as buyers seek more room, home offices and private outdoor space, but the surveys show demand is also healthy for slightly more affordable condos.