Vancouver a buyer's market
VANCOUVER -- The number of residential property sales in Metro Vancouver hit a 10-year low in June, prompting the Real Estate Board of Greater Vancouver to declare a buyers' market.
According to a board report released Wednesday, sales of houses, townhomes and apartments dropped to 2,362 last month, a 27.6-per-cent decline compared with 3,262 sales in June 2011.
"Overall conditions have trended in favour of buyers in our marketplace in recent months," said Eugen Klein, the board's president, in a news release. "This means buyers are facing less competition and have more selection to choose from compared to earlier in the year."
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