Housing Market's 10 year low

(July 04, 2012 )

The Real Estate Board of Greater Vancouver states it's now a Buyer's Market, as the number of residential property sales has hit a 10-year low in Metro Vancouver.

June saw a 27.6% drop compared to the same time last year.

“Overall conditions have trended in favour of buyers in our marketplace in recent months,” said Eugen Klein, the board’s president, in a news release on Wednesday.

“This means buyers are facing less competition and have more selection to choose from compared to earlier in the year."