Board president Jill Oudill said 54,655 properties were listed for sale in 2017, a dip of 5.1 per cent from the year earlier.
Vancouver home sales more normal in 2017, but prices still rose
The board considers the sales total more "historically normal," marking a 9.9 per cent decrease from 2016 and down 15 per cent from the sizzling pace of 2015.
But demand continues to outpace supply in most markets from Vancouver Island to the Okanagan, which spurs rising prices, Cameron Muir said.
University of B.C. business professor Thomas Davidoff said governments could improve affordability by encouraging the development of more units in single-family home neighbourhoods and reforming taxes.
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