News Release
In monthly real estate reports, we make a constant reference to the results in one time frrame in relation to the previous year. This gives us perspective on whether we are seeing improvement or decline. As we enter the spring time market, we always have a lift in the numbers. Houses look better in the spring, they are more visually appealing and hence saleable. This combined with some very low interest rates are fuelling the Vancouver spring housing market.
"The bridge between buyer demand and housing supply is continuing to narrow, which, as we see, helps bring stability to home prices," Scott Russell, REBGV president said. "The trends in our housing market over the last couple of months offer a much more comfortable, historically normal set of conditions."
The volumes are improving within the realm of affordability. Desirable properties may be facing multiple offers. For the most part, prices are trading marginally below their list price - NOT substantially below as the buyers would hope.
Choose the links below to read or hear more from Scott Russell.
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