vancouver bc

The Real Estate Board of Greater Vancouver (REBGV) reported yesterday that property sales slumped from 2,883 in November 2007 to 874 sales last month, a year-on-year decline of 69.7 per cent.

The spectre of negative equity for a greater number of recent home buyers is rising as prices continue to fall: almost 13 per cent has been wiped off the REBGV's benchmark residential property between May and November 2008. In price terms that's a fall from $568,411 to $495,704 in November 2008.