Home sales plummet in previously red-hot Vancouver as market softens
VANCOUVER — Home sales in Metro Vancouver last month dropped by almost 40 per cent compared with January 2016 with the sale of detached houses falling hardest.
The Real Estate Board of Greater Vancouver says the townhome and condominium markets are more active than sales for detached homes.
Just over 1,500 residential properties sold in January, down 39.5 per cent from about 2,500 sales that were recorded in January last year.
Sales last month were also down about 11 per cent from December, when about 1,700 homes sold.