Although there has been a very slight inventory reduction of active properties for sale in the last week, Victoria has seen a bit of a slowdown in the marketplace for residential housing - but nothing like the US. Contributing factors could be seasonal; the setbacks seen in the Canadian and US stock markets; financial challenges in Europe, Greece, etc. Overall, Victoria remains healthy and in some ways is 'insulated' from the global economic situation.
Additional good news is that credit rates are still very affordable for those Buyers ready & willing. Financial gurus are predicting rates will remain as is for a considerable time...
At a glance:
September 23-30, 2011
13 fewer active properties for the last 7 days
Up to September 26, 2011 vs September 2010
11% fewer sales
12% fewer new listings
10% more total active listings
Looking for that special property in our beautiful city?
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