Crisis In Vancouver's Real Estate Market? November 2020 Update.

Is the a crisis in vancouver's real estate market? Are we headed for a crash. I discuss these questions with my special guest, Reza Sabour of Sabour Mortgages.

This is your Vancouver real estate market update for November 2020 and we’re getting after it right after this.

Hey, everyone. I’m Craig Veroni with RE/MAX Masters Realty. I’m your local real estate agent here in Vancouver, BC.

In today’s video, I’m going to cover what’s happened in the Vancouver real estate market through the month of October, and we’ll discuss whether there is a housing crisis in Vancouver and if we’re heading for a crash. Taking part in that discussion is my special guest, Reza Sabour with Sabour Mortgages.

I shoot a ton of videos about what it’s like to live, love, and own here in Vancouver so, if you haven’t yet, please hit that subscribe button, and don’t forget to click on that bell so you can be notified immediately when I have a new video out. I really want you to be able to stay up to date on all the latest tips and insights into the Vancouver real estate market so you can become an expert too.

Let’s first look at last month’s stats. There was a 29% increase from the sales recorded in October 2019 to those recorded in October 2020 and a 1.2 % increase from the homes sold in September of 2020. Last month’s sales were 37.4 % above the 10-year October sales average, making it the 2nd highest on record for the month.

So what is all this talk about a crisis in Vancouver’s housing market or that we’re heading for a crash? 

Let's dive into these questions with my special guest, Reza Sabour of Sabour Mortgages. 

When you’re buying or selling a home, knowledge is key and the Snap Stats market reports are a great way to arm yourself with tons of knowledge on your market area.

To download the full market reports simply click on the images below to get the Metro Vancouver, Greater Vancouver, or, Fraser Valley reports.

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