Vancouver, BC April 4th, 2011 - Activity in the Greater Vancouver housing market continued to strengthen in March with both the number of homes sold and added to the region's Multiple Listing Service® (MLS®)reaching near record levels.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 4,080 in March 2011. This represents a 31.7 per cent increase compared to the 3,097 sales recorded in February 2011, an increase of 30.1 per cent compared to the 3,137 sales in March 2010 and an 80.1 per cent increase from the 2,265 home sales in March 2009. The all-time sales record for March occurred in 2004 when 4,371 transactions were recorded.

"Our market has had a very strong start to the spring season," Rosario Setticasi, REBGV president said. "With home sales above 4,000 and nearly 7,000 home listings added to the MLS® in March, it's clear that home buyers and sellers view this as a good time to be active in their local housing market."

New listings for detached, attached and apartment properties in Greater Vancouver totaled 6,797 in March 2011. This represents a 3 per cent decline compared to March 2010 when 7,004 properties were listed for sale on the MLS®, an all-time record for March. Compared to February 2011, last month's new listings total registered a 19.4 per cent increase.

At, 13,110, the total number of residential property listings on the MLS® increased 9.9 per cent in March compared to last month and declined 3 per cent from this time last year.

"Condition favour sellers at the moment, but we're seeing differences in homeprice trends and overall activity depending on the region and property type," Setticasi said.

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More than a year after Europe's debt crisis erupted in Greece, the leaders of the 17 countries that use the euro are still struggling to snuff it out.
 

Ireland said this week it will pour another 24 billion euros ($34 billion US) into its crippled banking system, while Portugal appears ready to join Ireland and Greece in needing a bailout from the European Union and the International Monetary Fund.  Here are some questions and answers about the crisis that won't quit.
 

What's the problem in Europe?
 

 · Too much government debt. So much that people wonder if governments can pay it all back. Some countries - Greece, Ireland, Italy for instance - owe more on government bonds than their entire economy produces in a year.
 

All that debt keeps coming due. The governments have to sell new bonds to pay off the old ones. The people that buy the bonds - banks, investors, insurance companies - are getting reluctant to lend, and if they do, they sometimes want more interest than the governments can afford.
 

Suddenly, some governments find they can't pay off their old bonds. Then it's a choice: default or get bailed out.
 

Greece and Ireland DID get huge bailout loans. Why doesn't that fix it?
 

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