Housing market continues to cool in Metro Vancouver: Real Estate Board

A real estate sold sign is shown outside a house in Vancouver, Tuesday, Jan. 3, 2017. THE CANADIAN PRESS/Jonathan Hayward

The Real Estate Board of Greater Vancouver says the supply of homes across Metro Vancouver continued to increase in September, while buyer demand remained below typical levels for this time of year.

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The number of homes sold fell 17 per cent from August and was down 43.5 per cent from the same month a year ago.

The composite benchmark price of a home was just over $1 million, a three per cent decrease over the past three months but up 2.2 per cent from September of 2017.

“Fewer home sales are allowing listings to accumulate and prices to ease across the Metro Vancouver housing market,” the board’s president-elect, Ashley Smith, said.

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