Both July and August we’ve seen slight decreases in the benchmark price,” Phil Moore, president of the Real Estate Board of Greater Vancouver, said. The board released monthly figures for August on Wednesday.
“In the detached market, it’s about three per cent lower than a year ago. In the condo market, it’s still 10 per cent higher but we’ve seen it edging down since the end of June.”
He says there has been a change in the condo market where there were bidding wars in the spring.
He says inventory of condos is now up 73 per cent from a year ago…