Home sales remain low: real estate board

Last month’s home sales represent the second-lowest January total in Greater Vancouver since 2001, the Real Estate Board of Greater Vancouver (REBGV) reported yesterday.

Last month’s home sales represent the second-lowest January total in Greater Vancouver since 2001, the Real Estate Board of Greater Vancouver (REBGV) reported yesterday.

The board reported that 1,351 homes were sold in January – a 14.3% decrease compared with the number of homes sold during the same period last year (1,577).

“It appears many home sellers are opting to remove their homes from the market rather than settle for a price they don’t want,” said REBGV president Eugen Klein.

“Home sale activity has been below historical averages in Greater Vancouver for about seven months.”

Klein said home sale prices have fallen by around 6% since peaking last spring. The composite benchmark price for January was $588,100, compared with $625,100 in May 2012.

Month-over-month home sales increased by 18.3% in January 2013 compared with sales in December 2012 (1,142).

ecrawford@biv.com

@EmmaCrawfordBIV

comments powered by Disqus

Also Read

More From Real Estate

The future price of condominiums, even in suburban Metro Vancouver markets, can be expected to increase because of...

Read Article

The Lower Mainland’s high-flying commercial real estate market came down to earth with a thud in the third quarter of 2014, dropping... 

Read Article

In a city with notoriously low vacancy rates, looking for an apartment in Vancouver seems to be getting even more difficult 

Read Article

Over the past two years RealNet Canada Inc. has offered a helpful analysis of the long-term value of investment properties in Metro Vancouver. 

Read Article

Plan for the site is to integrate existing 62,000-square-foot building with a new structure

Read Article

Subscribe to our mailing lists

* indicates required

Newsletters

* You can modify your newsletter subscriptions at the bottom of any newsletter you receive.
×