AUGUST 2021 - MARKET UPDATE WITH JOHN TSAI PREC*

Dated: September 13 2021

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AUGUST 2021 - MARKET UPDATE WITH JOHN TSAI PREC*

While home buyers have remained active in Metro Vancouver throughout the summer, the supply of homes for sale has declined steadily since June.

August was busier than expected, and listings activity isn’t keeping up with the pace of demand. This is leaving the market under supplied. 

Housing supply is the biggest factor impacting the market right now. To help relieve pressure on prices and improve peoples’ home buying options, the market needs a more abundant supply of homes for sale. Housing affordability has been a key issue in the federal election. We encourage the political parties to focus on policy solutions that will help streamline the creation of more diverse housing options for hopeful home buyers today and into the future.

When assessing the market, it’s important to understand that while year-over-year price increases have reached double digits, most of the increases happened three or more months ago. To better understand the latest home price trends in your preferred location and home type, talk with your local REALTOR®.

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John Tsai

John Tsai has received numerous accolades, including the eXp Icon Agent (2019-2020), Gold Master Medallion Club Award (2010-2020), Team Presidents Club (2019-2020) and the President’s Club Award (20....

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