Many people have been caught off guard by the recent surge in both Vancouver real estate sales and prices especially in the detached market coming out of the Covid lockdown. Last week I attended our annual Macdonald Realty Conference and this year was dedicated to the reasons why our market has been so strong while so many other sectors of the economy have been badly damaged. The 4 main reasons i will discuss are: 1. The world is awash in liquidity and how 80% of the job loss occurred at the bottom end of the income scale. 2. Changing consumer preferences. Working from home. 3. Flight to quality. An exodus from high-income, low-quality of life areas to high quality-of-life areas 4. Stable is the new sexy