clipped from: www.theglobeandmail.com VANCOUVER -- Housing prices have fallen 8.8 per cent in the Vancouver area since May, according to new figures from the Real Estate Board of Greater Vancouver.
It is the latest official assessment that has declared the boom in the real estate market in Vancouver and British Columbia to be over for now.
Two weeks ago, Central 1 Credit Union said housing prices in the province could fall as much as 20 per cent by 2010 from this year's peak.
"Today's housing market is characterized by moderating home prices and wide selection," Mr. Watt said. "It's definitely a buyer's market."