The Real Estate Board of Greater Vancouver says home sales plunged 38.8 per cent last month compared with October 2015. The board said 2,233 properties were sold in October of this year, down from the 3,646 home sales recorded in the same month last year. "While sales are down across the different property types, it's the detached market that's seen the largest reduction in homebuyer demand in recent months," Morrison said. and federal governments have brought in a number of measures to address soaring housing costs, particularly in Metro Vancouver. Last month, the composite benchmark price for all residential properties in Metro Vancouver was $919,300 — a 24.8 per cent increase compared to October 2015, but a 0.8 per drop from September of this year.

Source: CBC News November 02, 2016 22:56 UTC