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Plunge in home sales
METRO VANCOUVER/CKNW (AM980)
Gord Macdonald | Email news tips to gmacdonald@cknw.com
10/2/2012

More dismal numbers about the local housing market.


The Real Estate Board of Greater Vancouver says September sales of detached homes, townhouses, and apartments fell eight per-cent from August, and were 32.5 per-cent lower than the same month a year ago.


As well, the September sales were 41 per-cent below the 10-year September sales average.


Board president Eugen Klein says there has been a clear reduction in buyer demand in the three months since the federal government tightened mortgage rules.

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  1. lican posted on 10/02/2012 11:43 AM
    I'm just waiting for someone to suggest they need to raise taxes due to the lost revenue from the property transfer tax..........
  2. ChrisM_18 posted on 10/02/2012 04:02 PM
    Funny - the same drop in real estate sales isn't happening in Calgary - the place is exploding with growth- so why is a federal ruling affecting only Vancouver ?
    Could it be Mayor Moonbeam and his chicken in every backyard socialist lunacy ?
    Could it be the pending depression with the NDP coming to power next year ?
    Money travels fast these days - and goes where it is welcome
    1. AnneH_4 posted on 10/03/2012 09:33 AM
      @ChrisM_18 Actually the change in mortgage rules is affecting Calgary especially and mostly first time buyers. Calgary prices havent quite reached those in the lower mainland as well...

      The Mayor has a lot of common sense as well. he is trying to clean up the mess made by Bronconnier.

      The premier is a liberal in sheeps clothing

      So when the socialist hoards are elected next year my bet is people will move to Calgary and Saskatchewan
  3. WayneT_2 posted on 10/02/2012 04:31 PM
    Chris, could it be that the economy is dead in B.C. under the Liberals? Maybe when the HST eventually, eventually, eventually comes off, house sales will increase. Or could it be Chris that this market is just so over-priced that prices and sales couldn't keep going up. But you and Hochstein will always find a way to blame the NDP.
    1. ChrisM_18 posted on 10/02/2012 05:03 PM
      @WayneT_2 Well I remember the mess that Dave Barrett created - and I remember the mess that Clark left behind . Socialism and progress don't go together.
    show more replies
  4. PhilW_2 posted on 10/02/2012 07:29 PM
    Bennet,now there was a true politician.. i will get back to you on the other dead beats in a bit
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