February home sales were well below the record-breaking activity from one year ago and in line with our long-term historical average for the month. Limited supply and snowy weather were two factors hampering this activity. While home sales are not happening at the pace we experienced last year, home seller supply is still struggling to keep up with today's demand. This is why we've seen little downward pressure on home prices, particularly in the condo and townhouse markets.
For more in-depth information on March's market, please click below:
Greater Vancouver: REBGV February 2017 Stats Package
Fraser Valley: FVREB February 2017 Stats Package