Sales of homes in Greater Vancouver were up by 21.3 per cent in July compared to a year earlier but down 15.5 per cent from June. The Real Estate Board of Greater Vancouver says that there were 3,362 sales in August 2015 and although this was lower than in July it was 27.9 per cent above the ten-year average for the month.

Tighter inventory has made an impact on total sales. Although new listings on the MLS increased by 8.7 per cent year-over-year in August, the total number of homes available was 26.2 per cent lower than a year earlier and 5.3 per cent lower than in July. The MLS Home Price Index composite benchmark price was up 12 per cent year-over-year to $708,500.

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