Metro Vancouver real estate edges off peak
VANCOUVER — Metro Vancouver real estate markets edged off their peaks in May with lower sales, more listings and prices flattening out after a record setting rebound, according to figures from the Real Estate Board of Greater Vancouver.
The board, on Friday, reported 3,156 sales through the Multiple Listing Service in May, down 10 per cent from May a year ago, but above sales in 2008.
At the same time, the board reported 7,014 new listings added to inventory in May, 48 per cent more than May 2009, but less than the 7,648 put on the market in April.
May was, however, the third month in a row more than 7,000 homes were added to the market, the board said, bringing total inventory to 17,492, 10 per cent more than in April making it a more relaxed place for house hunters.
"Realtors are telling us they`re working with buyers who are not feeling as rushed to make a decision as they did late last year and earlier [this] year," board president Jake Molodowan said in a news release.
And buyers appear to be bargaining harder as prices in a lot of areas edged down from recent highs.
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