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Vancouver Home Sales Dip 11.5 Per Cent In June Compared With A Year Ago: Board

The Canadian Press, 05 Jul, 2017 11:21 AM

VANCOUVER — The Real Estate Board of Greater Vancouver says home sales dipped 11.5 per cent in June compared with a record high set a year ago.

The board says 3,893 properties changed hands last month compared with 4,400 residential property sales in June 2016.

Sales in June this year were down 10.8 per cent compared with May, when 4,364 homes were sold.

However, the board says last month's sales were still 14.5 per cent above the 10-year sales average for the month of June.

The MLS composite benchmark price for all residential property types in Metro Vancouver was $998,700 — a 7.9 per cent increase from a year ago and up 1.8 per cent compared with May 2017.

Board president Jill Oudil said demand for detached homes has eased back to more normal levels, while competition for condo units is leading to multiple offer scenarios and driving prices higher.

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