Record prices for Vancouver single-family homes

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A single-family detached home in the Vancouver area is getting more expensive, with the benchmark home price index rising 6.6 per cent in August from a year earlier, to $984,300. It’s expected that the high cost of detached homes will add further demand for townhouses and condos in the city and its suburbs with the typical cost being around half that of a detached home. There are many baby boomers who are now downsizing to condos or townhouses and seeing very healthy returns on their detached homes in the process.

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