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Vancouver's real estate market declines in March

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Friday, March 12, 2010

Vancouver saw a 1.1-per-cent decline in prices for new homes in March from the previous month and a 7.8-per-cent decline since March 2008, Statistics Canada reported Monday.


The declines were far greater than the national average, which saw prices for new homes fall 0.5 per cent for the month and 2.4 per cent in the year.

“Prices went up pretty heavily here, so to drop [eight per cent] isn’t surprising. And builders have standing inventory, so it makes sense to reduce prices, sell homes and get them off the books. It’s creating some pretty sweet deals for people looking for a home.”

Source

Author: Ines Raluca Prodan

Posted in:

News

Local news

Date:05/11/2009

Comments: 0

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