Metro Vancouver home sales plunge in October

Home sales in Metro Vancouver continue to fall, according to the latest numbers from the Real Estate Board of Greater Vancouver. 1,966 homes were sold in October, down 23% from September, and 34.9% from the same month a year ago. Board President Phil Moore says, "The supply of homes for sale today is beginning to return to levels we haven't seen in our market for four years." He says for buyers that means more selection to choose from, and for sellers it means more competition from other listings. The composite benchmark price was just over $1-million, a 3.3% decrease over the past three months.

Guest: Phil Moore

Board President

Home sales in Metro Vancouver continue to fall, according to the latest numbers from the Real Estate Board of Greater Vancouver. 1,966 homes were sold in October, down 23% from September, and 34.9% from the same month a year ago. Board President Phil Moore says, "The supply of homes for sale today is beginning to return to levels we haven't seen in our market for four years." He says for buyers that means more selection to choose from, and for sellers it means more competition from other listings. The composite benchmark price was just over $1-million, a 3.3% decrease over the past three months.

Guest: Phil Moore

Board President