Vancouver Home Sales Down 30% in One Year

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Residential home sales in Vancouver dropped to 1,516 sold units this past month, a decrease of 32.5% since last September. Prices, interestingly, have not yet fallen (down only .8% from last year), but a market correction cannot be far away. The Canadian government discontinued 30-year amortized mortgages three months ago and the markets are showing the first real signs of struggle. It seems that Vancouver, far and away the hottest Canadian real estate market, is showing signs of trouble ahead.

–From The Globe and Mail and Canadian Mortgages Inc.

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