01/03/2013 12:17 EST | Updated 09/30/2013 09:58 EDT

Vancouver Housing Bubble: December Sales Plunge From 2011

VANCOUVER - The Real Estate Board of Greater Vancouver says home sales fell sharply in December compared with a year ago.

The board sales home sales were down 31.1 per cent in the last month of the year compared with 2011.

Sales in December totalled 1,142 for the month.

The MLS home price index composite benchmark price for residential properties in the region was also lower.

The board said the benchmark stood at $590,800, a 2.3 per cent decline when compared to this time last year.

New listings also fell 15.3 per cent compared with a year ago and were half those seen in November.

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