Vancouver Real Estate News
Today’s housing market is definitely a buyer’s market.
StumbleUpon 0 Like 0 Retweet 0 Google +1 0The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 1,364 in October 2008, a decline of 55 per cent from the 3,028 sales in October 2007.
New listings for detached, attached and apartment properties increased 1 per cent to 4,867 in October 2008 compared to October 2007, when 4,819 new units were listed.
" Home sales are not keeping pace with the positive economic conditions in BC," REBGV president, Dave Watt said. "That’s a direct result of a loss of consumer confidence in the overall market. Accordingly, today’s housing market is characterized by moderating home prices and wide selection. It’s definitely a buyer’s market."
Click on the graph to see it in full size
You can also download the whole October 2008 REBGV statistics.
Posted by Jay Banks.
One Response to “Today’s housing market is definitely a buyer’s market.”
A buyer’s market is great for everybody I think. It’s been a seller’s market for too long. We just need to go through a period of price adjustment.