![\"\"](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/08\/canadian-housing-market-vancouver.jpg\")
<\/a><\/p>\nPhoto:\u00a0Karl Castillo<\/a>\/Unsplash<\/a><\/em><\/p>\n The benchmark price of a Vancouver home slipped further into sub-$1 million territory this July.<\/p>\n\n According to the Real Estate Board of Greater Vancouver (REBGV), the benchmark price of a Metro Vancouver home, including houses and condo apartments, slipped 0.3 percent on a month-over-month basis in July to $995,200.<\/p>\n That puts the benchmark price 9.4 percent lower than it was a year ago.<\/p>\n Benchmark price calculations take into account what types of dwellings are changing hands so the values aren\u2019t inflated by upscale properties and better reflect what a typical property is selling for at a given time.<\/p>\n It was the second straight month home prices remained below the $1-million mark, a far fall from the market\u2019s peak in May 2018, when the benchmark price was $1,104,600.<\/p>\n