A slowdown in real estate sales numbers in Vancouver, particularly in single-family homes worth more than $1 million, dragged down the country’s average home price in September, the Canadian Real Estate Association said Monday.
In Metro Vancouver, the average home price was down 3.8 per cent in September from a year earlier, which CREA said skews the national average price, which was up 1.1 per cent. Excluding Vancouver, the national average price was up 3.4 per cent from a year ago.
Gregory Klump, CREA’s chief economist, said the drop in Vancouver was caused by fewer really expensive sales this year compared to last year.
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