MAY 2020 - MARKET UPDATE WITH JOHN TSAI PREC*

Dated: 06/05/2020

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Metro Vancouver home prices have remained steady since provincial health officials implemented physical distancing requirements in March.

Home prices have been stable during the COVID-19 period. While we’re seeing a variety of long-term projections for the market, it's critical to understand the facts and trends as they emerge.

Home sale and listing activity is down compared to typical, long-term levels and up compared to the activity we saw in April 2020. Home buyers and sellers are adapting today, becoming more comfortable operating with the physical distancing requirements that are in place in the market.

Home buyers and sellers are working with their REALTORS® to use new tools to complete different stages of the real estate transaction virtually. When in-person interactions are necessary, we’re working with our clients to follow the physical distancing requirements set out by WorkSafeBC and the provincial health officer.

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John Tsai

John Tsai has received numerous accolades, including the Gold Master Medallion Club Award (2010-2019), Team Presidents Club 2019 and the President’s Club Award (2015-2018). Reading Rich Dad, Poor Da....

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