Since April, overall Greater Vancouver housing prices have decreased 2.8 per cent compared with the all-time high reached in April when the residential benchmark price was $593,419, according to the Real Estate Board of Greater Vancouver.
Greater Vancouver remains a buyer's market, the board confirms. Sales in August were down 36 per cent from a year earlier, while total active listings currently sit at 15,421, a 29 per cent increase from August 2009.
`We're seeing moderate demand, low interest rates and a healthy but slowing stream of supply in our marketplace, all variables that favour those looking to purchase a home," said Jake Moldowan, board president.
He notes that out-of-town investors continue to see opportunities in Greater Vancouver, especially in Richmond and Vancouver.
Across the province, housing sales are down about 30 per cent compared to a year earlier, reports the BC Real Estate Association.
from Western Investor, October 2010
