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Saying consumers are taking a 'bit of a break,' the chief economist for the BC Real Estate Association is downplaying new housing stats, which show overall sales in Metro Vancouver continue to fall.
"It's really quite isolated in terms of the decline in Vancouver."
Cameron Muir says last month's drop of nearly 20 per cent compared to July of last year comes after strong sales were recorded in early 2011, and average sales outside Metro Vancouver are up more than ten per cent.
"Kamloops and the Okanagan and Chilliwack for example, we're seeing 20 per cent year over year increases in overall unit sales."
Muir says he doubts people are leaving the Lower Mainland because they can get better bang for their buck elsewhere.