The Real Estate Board of Greater Vancouver says home sales plunged 38.8 per cent last month compared with October 2015.
The board said 2,233 properties were sold in October of this year, down from the 3,646 home sales recorded in the same month last year.
Board president Dan Morrison said changing market conditions combined with a series of government interventions in the real estate market contributed to the decline.
“Potential buyers are taking a wait-and-see approach to try and better understand what these changes mean for them,” he said in a statement Wednesday.
