Vancouver Real Estate Price Drop Signals Cycle Change
Month-over-month declines in real estate prices across many Lower Mainland 
property markets are another sign the overall market cycle has run its course.Cameron Muir, chief economist for the B.C. Real Estate Association, said he doesn’t believe that there was a housing bubble that has now burst, but said there has been a change in the cycle.
The Vancouver board reported 2,174 property sales in July, a 44-per-cent decline from the same month in 2007. July listings, meanwhile, increased 24 per cent to 6,104 compared with the same month a year ago.Total active listings in the inventory, however, were down slightly from June, the board said, at just over 19,000 compared with just over 20,000 the month before….full story
Other Related Posts
Filed under: Condos, Developments, Downtown Vancouver, Statistics