Sunday 7 June 2020
House Market Bidding Wars are back to Vancouver according to a report fr...
House Market Bidding Wars are back to Vancouver according to a report from Bloomberg
While sales are way down, the lack of inventory has propped up prices and led to bidding wars, even as economic fallout from the pandemic mounts and real estate agents adjust to new public health guidelines that have made it more difficult to market homes.
“Since the pandemic began, demand fell off a cliff,” said Taylor Marr, an economist at Redfin Corp. “What most people overlook is that sellers also pulled back.”
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