Buyer confidence and activity is increasing in B.C. despite continued short supply and price escalation, according to real estate professionals.
Sales increased by eight per cent month over month in Metro Vancouver in April, said MLA Canada’s Brittany Reimer, a partner and managing director in the real estate agency’s Fraser Valley office.
Brendon Ogmundson, chief economist at the B.C. Real Estate Association, described the current market as “really strange.”
He added it’s interesting to see sales increase without any economic drivers, such as a decrease in interest rates. Ogmundson attributed the increased sales activity to pent-up demand.