Home sales in Greater Vancouver continued to decline in August 2012 compared to the previous year and month. Residential property sales reached 1,649 in August, down 30.7% from August 2011 and 21.4% from July 2012. Both the number of new listings and total active listings increased compared to the previous year. The president of the Real Estate Board said the market is currently in a buyer's market situation. Benchmark home prices declined slightly or remained stable across most areas compared to the previous year.