Scotiabank’s Economist’s real estate update:
Vancouver Housing Market Shows Signs of Life
- Ahead of tomorrow’s Canadian Real Estate Association (CREA) report for May 2019, we analyze conditions in the Vancouver housing market and estimate its home sales activity in that month.
- Our preliminary seasonally-adjusted estimate of May 2019 Vancouver home sales indicates an increase of more than 25% versus April 2019, which would represent the strongest monthly climb since 1993.
- It is too soon to tell whether that upturn would reflect the beginning of a rebound from Vancouver’s prolonged housing market slump, but we still anticipate stronger home buying activity as the year progresses.
For the full report, please reach out to Scotiabank Home Financing Advisor, Tanya Toye 604-788-8693.