This is hardly what many have expected during a sizzling 12-month period of record high housing completions in Greater Vancouver. But it became evident when New Listings continued to struggle all year that this could very much happen. We are now seeing about 2,000 inventory drop year-over-year. What the market has shown this year is the ability to absorb the record high housing constructions and completions. With Total Inventory expected to tank under 10,000 for the first time since April, 2018, there is trepidation building among the potential buyers as to whether they may have missed the bottom. I personally do not believe this and I do not expect a price recovery soon. But the low Total Inventory adds a level of intrigue in a market that is in a transition period.
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