Home sales in Vancouver last month fell to lowest level since January
Vancouver’s booming housing market, one of the hottest in North America, may be showing signs of cooling after home sales fell last month to their lowest level since January.
A total of 3,226 residential properties were sold in July, down 26.7 per cent from June and an 18.9 per cent drop from July 2015, the city’s real estate board reported Wednesday.
Dan Morrison, president of the Real Estate Board of Greater Vancouver, said the summer months are generally slower, and that last summer was particularly busy.
“It’s really just a return to more historical average levels,” said Morrison. “July last year was really the exception, and we’re still returning to what we’d expect to see in July.”