Happy New Year! I hope you all had a fantastic holiday season and are ready to dive into 2013.
Looking back to the December 2012 real estate market, it was no surprise that we finished the year in much the same fashion as the previous months - overall sales volume was down, compared to 2011 and to the 10 year average for December.
The Real Estate Board of Vancouver summed it up nicely in their most recent headline as, "Prices hold firm as home buyers and sellers conclude 2012 from the sidelines. Quite fitting. You can read the full report here:
Some experts predict that we may see a busier market in 2013. Cameron Muir, BCREA's chief economist said, "The broader slowdown may be a precursor to more elevated activity in 2013, resulting from pent-up demand.
We'll see if that holds true. For now, it's pretty much the same story for my clients currently looking to buy - they're keen to purchase, but there isn't much great product to choose from right now.
Sounds like a great time to list, if you're thinking about it.
In the meantime, below is the quick summary of how the market fared in December 2012:
Please don't hesitate to get in touch if you have questions about any of this information. Likewise, give me a shout if you'd like more information on your own home or neighbourhood, or are thinking about jumping into the market.
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