Residential property sales in Vancouver declined 42.9 per cent in September 2008 to 1,585 from the 2,776 sales recorded in September 2007, the Real Estate Board of Greater Vancouver reports.
?After five years of unprecedented increases, housing prices are beginning to realign,? REBGV president, Dave Watt said. ?Although the economic situation in the United States has affected consumer confidence globally, the consensus view remains that our local housing market is underpinned by solid economic fundamentals.?
Sales of detached properties in September 2008 declined 50.3 per cent to 546 from the 1,099 units sold during the same period in 2007. Since May 2008, the benchmark price for an apartment property in Greater Vancouver has declined 5.2 per cent.
You can also download the whole September 2008 REBGV statistics.