Erica Rendell

VANCOUVER REAL ESTATE

Metro Vancouver Home Sales Decline & Return To Typical August Levels.

Vancouver Homes Sales Decline

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver totalled 2,489 in August 2016, a decline of 26 per cent compared to the 3,362 sales in August 2015;

10.2 per cent less than the 2,771 sales in August 2014;

and one per cent less than the 2,514 sales in August 2013.

August 2016 sales also represent a 22.8 per cent decline compared to last month’s sales.

 

From a historical perspective, last month’s sales were 3.5 per cent below the 10-year sales average for the month.

“The record-breaking sales we saw earlier this year were replaced by more historically normal activity throughout July and August,” Dan Morrison, REBGV president said.

 

"Sales have been trending  downward in Metro Vancouver for a few months.

 

The new foreign buyer tax appears to have added to this trend by reducing foreign buyer activity and causing some uncertainty amongst local home buyers and sellers.

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.