Housing market stable?

High prices led to fewer homes being sold in the Vancouver area last month, according to the Real Estate Board of Greater Vancouver (REBGV).

The benchmark price for all homes was $577,074 — a 9.1 per cent increase from July 2009, but a slight decrease from the spring.

Compared to the same time last year, 45.2 per cent fewer properties were sold in July of this year.
Jake Moldowan, REBGV president, said that the market is shifting toward buyers.