Home sales in Metro Vancouver are falling while the number of houses listed for sale is rising.

The Real Estate Board of Greater Vancouver says home sales dropped 10 per cent in May compared to the previous month and to May of last year.

The number of properties newly listed for sale in May also soared 48 per cent compared to May of last year.

The real estate board says the benchmark price for residential properties in Metro Vancouver has increased 16.7 per cent over the last 12 months to $590,662.