Vancouver area real estate has stalled for the second month, with the biggest drop in West Vancouver, but no big crash yet and prices are still way up from a year ago. The biggest drop is in sales:
The number of sales made in the region dropped dramatically in October 2016. There were only 2,233 sales, a 0.9% decrease from last month. Oh, your real estate agent said it’s seasonal? It’s a 38.8% decrease from last October. Pretty sure that was the same season last year. Agents typically interpret this as sellers seeing less value in selling right now. Conversely, less units for sale typically means lower inventory, which could push prices higher… eventually.
Read the full article over at betterdwelling.com