Listings continue to outpace sales in Vancouver

I have just received the latest stats from the Real Estate Board of Greater Vancouver (REBGV).  As you may know, these guys are regularly monitoring property prices of Vancouver real estate, and following transactions. Now, they report says that property listings continue to outpace sales. "Greater Vancouver housing prices have drawn back, the last two months, from the record highs experienced in early 2008," REBGV reports.

According to their figures, housing prices across each residential category have dropped since May 2008.

REBGV president, Dave Watt says that there was a slight decline in the total active listings on the market in July, and that is  compared to June. 

Year-on-year residential property sales declined 43.9 per cent in July 2008, and new listings for detached, attached and apartment houses have risen 24 per cent last month.

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