Sales volume is down but prices remain strong

The monthly stats package was just released from the Vancouver Real Estate board and it shows that although the sales volume is 43.7 percent lower than May of 2019, the prices in most regions has remained level over the last 3 months.  This is an encouraging sign as the banks have been mandated to not initiate foreclosures till September 2020.  If market values remain strong, homeowners who have to sell due to job losses should be able to sell and still have equity without getting foreclosed on.  

For more insight on the market Stats click here