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Home sales up 16.4 per cent in May

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Friday, March 12, 2010

According to the latest report of the Canadian Real Estate Association, home sales in Metro Vancouver jumped 16.4 per cent in May from a year earlier.



“Inventory levels are still high in many markets, but fewer new listings and rising sales activity suggests that the selection of homes available for sale may shrink as the year progresses,” said Gregory Klump, chief economist at CREA.

“The supply of homes up for sale needs to be drawn down further before average price increases become more widespread among local markets.”

Source



Author: Ines Raluca Prodan

Posted in:

News

Real estate news

Date:06/16/2009

Comments: 0

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