Local home sales down in November

VANCOUVER (NEWS1130) - Home sales in the Vancouver area fell 19 per cent last month compared to a year ago, but prices continue to rise.

The Real Estate Board of Greater Vancouver says there were 2,500 sales in November, but the adjusted average selling price of $580,000 is 4.1 per cent higher than a year earlier. However, the industry group says prices have "remained virtually unchanged since June of this year."

The unadjusted selling price of a detached home was little changed last month from October at just over a million dollars, but was 15 per cent higher than a year ago.

Listings fell 12 per cent from the previous month, and were also 12 per cent lower than November of 2009.