“A record-breaking real estate market cycle na Grande Vancouver, longer than normal at seven consecutive years, terminou em 2008 amidst global economic challenges.”

That’s according to a report by the Real Estate Board of Greater Vancouver, which also noted that, “The change brought relief from rising prices that saw benchmark prices escalate from $357,770 for a single family detached home in December 2001 para $648,421 by December 2008.”

And if you were feeling priced out of the Vancouver market, take heart.

The REBGV says, “Since May 2008, the overall residential benchmark price has declined 14.8 por cento in Greater Vancouver to $484,211 from $568,411.”