Summer's done nothing to slow residential property sales in Metro Vancouver, which were up 30% (3,061) last month versus July 2013, and 33.5% above the 10-year sales average for the month. It’s a market Real Estate Board of Greater Vancouver president Darcy McLeod says “continues to benefit sellers” as homebuyers, spurred by low interest rates and strong consumer confidence, compete for a reduced supply of homes. “We have about 5,000 to 6,000 fewer homes for sale today than we've seen at this time of year over the last five to six years." The index benchmark price for residential properties is $700.5k, up 11.2% from last July.
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