New release from the Real Estate Board shows that Home Sales in March trended below the 10-year average in Greater Vancouver while home listing activity outpaced what's typical for the month. The report also mentioned that the residential sales reached 2,874 in March 2012. This represents 12.9% increase compared to 2,545 sales recorded in February 2012, a decline of 29.6% compared to the 4,080 sales in March 2011 and an 8.4% decline compared to the 3,137 home sales in March 2010. March sales in Greater Vancovuer were the second lowest tottal for the month in the region since 2002 and were 16.8% below the 10-year sales average for the month.
" Home sellers have been more active than buyers the first few months of the year, but we continue to see a relative balance in the total supply of homes for sale and current demand in the marketplace" Eugen Klein, REBGV president said.