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Commercial real estate investment activity in the Vancouver market area picked up in the fourth quarter of 2020, closing out the year on a high note. Total transaction volume reached $7.9 billion for the year, which was a 15% decrease from the $9.3 billion invested in 2019. Transaction counts over 2020 reached 1,421, down 8% compared to 1,550 recorded in 2019. The annual decline resulted from a significant drop off in the office and residential land sectors, while retail, industrial and apartment all saw an increase in activity over the previous year. Overall, the fourth quarter ended with nearly $2.2 billion in transaction volume across 381 transactions.