COVID-19 infects Metro Vancouver real estate market

Many are anxious about how the virus will affect parts of the economy, including the real estate market which made up 17.4% of British Columbia’s GDP in 2018. Earlier this month, Metro Vancouver real estate brokers cancelled all open houses. When houses aren’t shown they become more difficult to sell, and when houses aren’t selling the broader market suffers. Not only are people avoiding open houses but appraisers are also staying home. Without needed appraisals, deals can’t be closed.