The number of new residential property listings hit the lowest level last month in eight years, said the Real Estate Board of Greater Vancouver.
New listings were down 24 per cent and sales were down 30.8 per cent from a record-breaking level recorded in March 2016, the board said in a news release.
It said the sales-to-active listings ratio was 47.2 per cent, a 15-point increase over February and said home prices would likely continue to increase until more housing supply comes into the market.
The Multiple Listing Service composite benchmark price for all residential properties in Metro Vancouver is currently $919,300, up 1.4 per cent from February.
Credit: Vancouver Sun - Real Estate Board of Greater Vancouver