Home sales see a dip in April: REBGV

The latest report from the Real Estate Board of Greater Vancouver shows home sales in April calmed dramatically from the pace of last month and the records set last year.

The Board says just over 3,200 homes were sold around Metro Vancouver in April, a drop of over 1,100 in just one month and a decline of more than 1,700 when compared with April of last year.

Real estate board chair Daniel John says the cooler market gives would-be buyers more time to secure financing and arrange for inspections.

But the board says while sales are down, so are new listings, meaning competition for available properties remains fierce, and that pushed the composite benchmark price for all homes to just under 1.4-million dollars, a one per cent hike since last month and nearly 19 per cent higher than last April.