Real estate sales in Greater Vancouver and in the Fraser Valley dipped more than 25 per cent in May compared to the same month a year ago while the number of new listings climbed.
The increase in listings combined with the slowing sales has cooled price increases which are now mostly in the single digit range across the two real estate boards. Abbotsford is the exception, where the average price for single-family detached homes rose more than 11 per cent in May compared to May 2007.
