You know that housing markets are extremely strong within British Columbia and across the country. In most respects, Landcor’s numbers for 2021-Q2 behaved as you and I might have expected – they were phenomenal. There was one small surprise: I had been expecting sales to be at an all-time high, but they were the second highest ever (48,726 residential sales for 2021-Q2 didn’t reach the record of 50,777 sales that was set in 2005-Q3).
The second quarter is almost always the strongest of the year. In consequence, once the numbers are seasonally adjusted, the sales rate for Q2 was actually a bit lower (6%) than in Q1. Recent sales have been the strongest seen in over a decade, although activity is still weaker than was seen during the frenetic period from 2005 to 2007.