Apr 2008 8

Housing market moderates for spring-time buyers

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The Real Estate Board of Greater Vancouver (REBGV) reports that while there were fewer housing sales in March 2008 compared to last year, residential prices continued to climb.

Residential property sales in Greater Vancouver totalled 2,997 in March 2008, a decline of 16.3 per cent from the 3,582 residential sales recorded in March 2007, and a decline of 25.7 per cent compared to the 4,033 sales in March 2006. New listings for detached, attached and apartment properties increased four per cent to 5,674 in March 2008 compared with March 2007, when 5,456 new units were listed.

?The market is continuing to balance, with sales and listings beginning to re-align with our 10-year averages,? says REBGV president, Dave Watt. ?The selection of inventory hitting the market is wider than we have seen in the past few years, which gives prospective buyers more choices.?





You can download the whole report by clicking here.

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