Home sales in BC return to 'historic averages' says real estate board
Figures from the real estate association show the change was most pronounced in Vancouver where fewer detached homes sold and sales of all property types made up just 35 per cent of sales across BC, an eight per cent decrease from January 2016.
With fewer expensive, single-family homes changing hands compared with condos or townhomes, the association’s news release says the average price of a property in the Vancouver area skewed downward.
It says the residential benchmark price in Greater Vancouver declined 3.7 per cent over the last six months, but record hikes last year mean prices are still 15.6 per cent higher than they were in January 2016.
