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Vancouver Home Supply Up As Sales Drop Below Historical Average In October

Vancouver home supply up as sales drop below historical average in October

By The Canadian Press for CTV News

The Real Estate Board of Greater Vancouver says home supply is rising and reaching levels not seen in roughly four years, even as the average price inches up year-over-year.

The board says the composite benchmark price for all homes was $1,062,100 in October — up one per cent since October 2017, but down 3.3 per cent over the last three months.

Sales of all types of homes — detached, townhomes and condos — in October fell 34.9 per cent compared with the same month last year, dropping 26.8 per cent below the 10-year October sales average.

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