Home Sales increased in October 27.4%

There is a glimmer of light in the latest sales figures from the Real Estate Board of Greater Vancouver. Residential property sales in October of detached, attached and apartment properties were up 27.4 per cent over September with prices declining 0.8 per cent over last year. “Buyer demand increased slightly in October compared to previous months,” reports Sandra Wyant, REBGV president-elect. “Overall conditions in today’s market remain in favour of buyers, with low interest rates, more choice, and less time pressure in terms of decision-making. This translates into a calmer atmosphere for those looking to buy a home and it places more onus on sellers to ensure their homes are priced to compete in today’s marketplace.”