Condos, townhomes hottest sellers in Metro Vancouver: real estate board
VANCOUVER — Home sales across Metro Vancouver rebounded to near record levels in May but demand is now being driven by condominiums and townhomes, a real estate expert says.
That’s a shift from booming single-family home sales last year, said Real Estate Board of Greater Vancouver president Jill Oudil.
“First-time buyers and people looking to downsize from their single-family homes are both competing for these two types of housing,” she said in a news release.
Real estate sales dropped off dramatically in Metro Vancouver shortly after B.C. Premier Christy Clark introduced a 15-per-cent foreign buyers tax last August in an attempt to cool the overheated market.