Vancouver Home Sales Plunge 40%, Extending String of DeclinesBy
Monthly sales mark seventh consecutive year-over-year decline
Sales-to-listings ratio at a two-year low: real estate board
This time last year, Vancouver was one of world’s hottest housing markets as buyers turned up throughout the winter for bidding wars and sales reached an all-time high.
Today, the Real Estate Board of Greater Vancouver reported transactions in Metro Vancouver plunged 40 percent in January over a year earlier as both buyers and sellers hover on the sidelines. That’s the seventh straight month of declines, according to data compiled by Bloomberg. The ratio of sales to listings — used by the industry as a harbinger of prices — is also at a two-year low, according to the board…
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