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VANCOUVER, B.C. – February 4, 2013 – Home buyer demand remains below historical
averages in the Greater Vancouver housing market. This has led some home sellers to remove
their homes from the market in recent months.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in
Greater Vancouver reached 1,351 on the Multiple Listing Service® (MLS®) in January 2013.
This represents a 14.3 per cent decrease compared to the 1,577 sales recorded in January 2012,
and an 18.3 per cent increase compared to the 1,142 sales in December 2012.
Last month’s sales were the second lowest January total in the region since 2001 and 18.7 per
cent below the 10-year sales average for the month.
“Home sale activity has been below historical averages in Greater Vancouver for about seven
months. This has caused a gradual decline in home prices of about 6 per cent since reaching a
peak last spring,” Klein said.
Since reaching a peak in May of $625,100, the MLS® Home Price Index composite benchmark
price for all residential properties in Greater Vancouver has declined 5.9 per cent to $588,100.
This represents a 2.8 per cent decline compared to this time last year.
Read More: http://www.rebgv.org/sites/default/files/REBGV%20Stats%20Package%2C%20January%202013.pdf

Comments

Emoke Zimmermann on Feb 7, 2013 11:41 AM
Great article about the housing market. Really shocking numbers. Thanks for sharing Branka!

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