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Sales of houses in Vancouver increased 75% in June

04.07.09, 09:40
2009 vs June 2008.
The combination of low interest rates and more affordable pricing helped
propel Greater Vancouver home sale numbers to the second all-time highest
total for the month of June.The Real Estate Board of Greater Vancouver (REBGV)
reports that sales of detached, attached and apartment properties increased
75.6 per cent in June 2009 to 4,259, from the 2,425 sales recorded in June
2008. The figure is just short of the record-breaking 4,333 sales which
occurred in June 2005.New listings for detached, attached and apartment
properties declined 17.9 per cent to 5,372 in June 2009 compared to June 2008,
when 6,546 new units were listed. However, new listings increased 13.5 per
cent from May to June of this year. Total active listings in Greater Vancouver
currently sit at 13,252, down 27 per cent from June 2008 and 2.9 per cent
below the active listings count at the end of May 2009.“Price reductions and
low interest rates have created an improvement in affordability, which is
causing the number of sales to rise to levels comparable to 2003 to 2007,”
Scott Russell, REBGV president said.
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