Buyer's Market Cont'd

The summer of 2012 drew to a close in September with home sale
activity well below historical averages in the Greater Vancouver housing market.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached
and apartment properties reached 1,516 in September, a 32.5 per cent decline compared to the 2,246 sales
in September 2011 and an 8.1 per cent decline compared to the 1,649 sales in August 2012.
September sales were 41.6 per cent below the 10-year September sales average of 2,597.
“There’s been a clear reduction in buyer demand in the three months since the federal government eliminated
the availability of a 30-year amortization on government-insured mortgages,” Eugen Klein, REBGV president
said. “This makes homes less affordable for the people of the region.”
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,321 in September
The summer of 2012 drew to a close in September with home saleactivity well below historical averages in the Greater Vancouver housing market.The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attachedand apartment properties reached 1,516 in September, a 32.5 per cent decline compared to the 2,246 salesin September 2011 and an 8.1 per cent decline compared to the 1,649 sales in August 2012.September sales were 41.6 per cent below the 10-year September sales average of 2,597.“There’s been a clear reduction in buyer demand in the three months since the federal government eliminatedthe availability of a 30-year amortization on government-insured mortgages,” Eugen Klein, REBGV presidentsaid. “This makes homes less affordable for the people of the region.”New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,321 in Septembe
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.