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Conditions continue to favour buyers in the Greater Vancouver Housing Market

VANCOUVER, B.C. – October 2, 2012  The summer of 2012 drew to a close in September with home sale activity well below historical averages in the Greater Vancouver housing market. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 1,516 in September, a 32.5 per cent decline compared to the 2,246 sales in September 2011 and an 8.1 per cent decline compared to the 1,649 sales in August 2012. September sales were 41.6 per cent below the 10-year September sales average of 2,597.“There’s been a clear reduction in buyer demand in the three months since the federal government eliminated the availability of a 30-year amortization on government-insured mortgages,” Eugene Klein, REBGV president said. “This makes homes less affordable for the people of the region.”  click here for full news release _media/Documents/REBGV Stats/REBGV September stats.pdf
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