“October housing sales consistent with Record Highs”

The monthly news release from the Greater Vancouver Real Estate Board is out and it continues to look like a Sellers Market.

Quoting:

REBGV reports that the total residential sales reached 3028 units in October 2007, and increase of 11.2 % compared to 2,722 sales in October 2006, and a 2.3% decrease compared to the 3,099 units sold in October 2005.

Property listings remain relatively unchanged compared to last year’s levels, with 4,1819 active listings at October month end, compared to 4,862 last year.

“This is only the 4th time in 25 years that sales have surpassed the 3,000 mark in the month of October,” says the board president Brian Napthali. “What we’re seeing is a buoyant market fueled by strong demand from both first-time and repeat buyers.”

Sustaining factors to this market include a strong ecomomy, steady interest rates and modest unemployment.

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*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

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