• Vancouver ‘largely responsible’ for national drop in home sales

    Home sales in July declined for the third consecutive month, led by a hot real estate market in Vancouver that may be showing signs of cooling, some analysts say.

    National figures from the Canadian Real Estate Association (CREA) show that on a national basis, sales fell 1.3 per cent from June to July, while the number of newly listed homes rose 1.2 per cent. On a year-over-year basis, sales are down 2.9 per cent.

    But in Greater Vancouver, monthly sales have plunged 21.5 per cent from their peak in February, the real estate group’s report notes.

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