More homes on Metro Vancouver market, but board says demand still high as prices grow

May 4, 2021 | 11:49 AM

VANCOUVER — Increasing values are prompting homeowners to sell, but the Real Estate Board of Greater Vancouver says more supply is still needed to meet active market demands. 

The board reports there were 4,908 residential home sales in its 15 regions in April, a 342 per cent increase from the same month last year. 

Board economist Keith Stewart says there’s been a corresponding supply from home sellers this spring to meet the spike in sales, but more homes are needed on the market to bring conditions to balance. 

The number of homes listed for sale in the region is 10,245, a 9.1 per cent increase from April last year, but the board says it’s still more than 11 per cent below the 10-year average for April.