2020 turned out to be a year that no one could have predicted, and that certainly rings true for Vancouver’s real estate industry. When the clock struck 12:00 am on January 1st, 2020, we had no idea of the impact COVID-19 would have on our local economy. We first felt the impact of the pandemic on

"Another record-setting month in October with over 6000 MLS sales transactions across Greater Vancouver and the Fraser Valley along with strong absorptions in the presale market in both existing inventory and newly released projects as the flight to space continues.” Suzana Goncalves EVP, SALES AND

In 2017, the Cambie Street Corridor was one of the hottest pre-sale markets in the Lower Mainland. Like all other parts of the housing market over the past 24 months, both demand and supply have pulled back. In our analysis, we uncovered three key insights worth noting about where it is today and

"Momentum continued into September with record setting resale activity in some categories and many buyers opting for space further and further away from the Vancouver CBD. We also saw a strong single month absorption rate for new product and reasonable absorption of concrete product.” Suzana

"Activity remained strong in August including promising absorption of concrete product. We do believe there could be a slight pullback in September as people adjust again to new rhythms with schools back in session.” Suzana Goncalves EVP, SALES AND MARKETING; PARTNER, MLA CANADA HIGHEST PRESALE

"Sales volumes remain steady within presale as townhomes continue to outperform and the economy recovers.” Suzana Goncalves EVP, SALES AND MARKETING; PARTNER, MLA CANADA LAUNCHES ACROSS NUMEROUS SUBMARKETS There were six project launches in July 2020 that released approximately 221 units to market

In the long term, Vancouver housing prices are heading one way — up. 2020 is a year that will never be forgotten. In every corner of society, in every industry, every business and household, the effects of COVID-19 are dramatic. Our daily lives, patterns and behaviours have shifted. Nobody has been

"We remain optimistic about growing sales activity and stable pricing and don’t expect to see any drop in activity as we historically often do during Summer. We continue to monitor closely how further Covid-19 impacts consumer confidence and the market as a whole, particularly as our neighbours down

"Sales volumes remain low overall and consumers need additional time to adapt to the new reality as we re-open the economy. However, we are cautiously optimistic as we see positive trends in inquiries into our Presentation Centres and increased sales from last month in presale.” Suzana Goncalves EVP