Sales drop in Vancouver but prices continue to rise?

New statistics released by BCREA has shown that sales of homes in Vancouver have dropped 8.8% from last year, but prices have actually increased by 2.2%

This actually makes sense because the supply is still at an all time low in the past 10 years. Less supply, more demand, higher pricing. We are seeing almost all neighbourhoods in Vancouver to be the same in pricing, as well as parts of Burnaby. Is demand strong enough that Richmond is next to be on par with pricing?

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