The Greater Vancouver housing market experienced below average home sale totals, typical home listing activity and modest decline in home sale prices in 2012. The regions total sales of 25,032 homes is the second lowest since 2000 and 25% below the 10 year average in Greater Vancouver. The number of listings (58,379) is slightly above the historical averages. On average, homes are taking 73 days to sell.
During the first half of the year, home prices were on the rise and reached an all time high in May. Since then home prices have declined about 6% with the largest declines of detached properties seen in Richmond and Vancouver west side and the apartments in Whistler and West Vancouver.