As most people know the most important factor which affect house sale is price, consumer confidence, then interest rates. The trading of expensive houses in up-scale neighbourhoods has skewed the average resale price in Vancouver, but the lower end favours buyers still. The article "Housing bubble fears over-inflated" mentions that Vancouver's existing housing market seems to defy economic logic. The average resale price was up more than 20 per cent from 2010 in both May and June, the latest in a six-month string of double-digit price hikes, and well above the six-percent long-term trend of price growth. Price growth due to a changing composition of sales (and rising prices in individual neighbourhoods) does not necessarily produce a housing bubble! There are many factors which do not exist in a Vacuum, so a professional should always be consulted. Wise shoppers can do very well in Vancouver by searching for the right unit in the right location. The right real estate team is an indispensable tool to make this happen.
Reference: http://storage.ubertor.com/cl2788/content/document/18265.pdf
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