Homes sales fall in Metro Vancouver again: REBGV

A new home is under construction in North Vancouver, B.C., Tuesday, June 12, 2018. The annual pace of Canadian housing starts in September slowed compared with August. THE CANADIAN PRESS Jonathan Hayward.

Home sales in Metro Vancouver continue to fall, according to the latest numbers from the Real Estate Board of Greater Vancouver.

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A total of 1,966 homes were sold in October, a 34.9 per cent decrease from the 3,022 sales recorded in October 2017, and a 23.3 per cent increase compared to September 2018 when 1,595 homes sold.

As well, that figure is 26.8 per cent below the 10-year October sales average.

Board president Phil Moore says, “The supply of homes for sale today is beginning to return to levels we haven’t seen in our market for four years.”

He says for buyers, that means more selection to chose from, and for sellers, it means more competition from other listings.

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The composite benchmark price was $1,062,100, a decrease of 3.3 per cent over the past three months.

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