Conditions continue to favour buyers in the Greater Vancouver housing market | Real Estate Board of Greater Vancouver
Coles Notes:
Basically September 2012 sales (# of sales) are 42% below the 10 year average for september. So volume or amount of transactions are decreasing, but prices have only gone down 2.3% over the last three months according to the benchmark prices.
Which means inventory is at a high and not many people are buying or selling, but prices havnt really come down.
However if you annualize 2.3% for 3 months over a 12 month period that is a significant decrease (assuming prices are going down at that same rate).