Thursday, 16 August 2012

The Province "Vancouver home resales plummeting" 大温二手屋市场"暴跌"

GF:The Province 日报 现在用"暴跌"这词有点夸大嫌疑,再过几个月再说吧

Vancouver home resales plummeting


Average price down 12.4% to $667,462 over last year in July

AUGUST 16, 2012 
Vancouver's resale housing market plunged sharply in July compared with July 2011, according to the Canadian Real Estate Association.

A total of 2,135 homes changed hands in the Greater Vancouver Multiple Listing Service area in July, the CREA reports. That marked an 18.3-per-cent drop from 2,614 sales in July 2011.

The total value of homes sold fell even more sharply: Dollar volume of residential sales for July, at $1.42-billion, was down 28.4 per cent from $1.99-billion in July 2011, said the CREA.

For the first seven months of this year, to the end of July, total residential sales volume for Vancouver stood at $12.82-billion - down 26.1 per cent from $17.34-billion for the same period in 2011.

The bigger drops in dollar volumes are owed in part to falling home prices: The average price of a home in Greater Vancouver in July was $667,462 - down 12.4 per cent from $761,673 in July 2011.

Greater Vancouver's declines were among the most dramatic and dragged down national statistics. But home prices also continued to decline across the rest of the country in July and the pace of the depreciation is picking up, according to the CREA.

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