August 17, 2016 3:38 pm
DATA: Is the Metro Vancouver real estate market in free fall?
"East Vancouver’s Nina MacDonald echoes that belief telling Global News she hasn’t had any nibbles on her $1.28 million, 59-year-old bungalow on Napier Street that she’s owned for over 20 years. She’s even cancelled an upcoming open house because she felt like it would be pointless.
She initially wanted to sell because the real estate windfall would allow her to purchase a turnkey property and pay the down payment on houses for her grandchildren.
Global News obtained MLS sales data from several key Metro Vancouver markets and found the number of homes sold during the first two weeks of August in Greater Vancouver dropped by 85 per cent on average.[color=rgba(0, 0, 0, 0.65098)]“I went from having a phone call every day [from realtors] to not having any,” she said.[/color]
Richmond experienced a 96 per cent drop in the number of sales and Burnaby North fell by 95 per cent. Vancouver’s West Side, West Vancouver, and Coquitlam also took major hits."
http://globalnews.ca/news/2887766/data- ... free-fall/