The Holidays are upon us! It can be a wonderful time, but also busy and stressful. Be sure to take some time for yourself and enjoy.
Looking to real estate: Home buyer demand remains below long-term historical averages in the Metro Vancouver housing market. The number of sales are down a whopping 42.5% compared to November 2017 and 18.2% lower than October 2018. They were also 34.7% below the 10 year average for sales in November.
“Home buyers have been taking a wait-and-see approach for most of 2018. This has allowed the number of homes available for sale in the region to return to more typical historical levels,” Phil Moore, REBGV president said. “This activity is helping home prices edge down, across all property types, from the record highs we’ve experienced over the last year.”
“Home prices have declined between four and seven per cent over the last six months depending on property type. We’ll watch conditions in the first quarter of 2019 to see if home buyer demand picks up ahead of the traditionally more active spring market,“ Moore said.
For Vancouver, here is the snapshot (please get in touch if you'd like information on an a different area):
I wish you, your family and friends a wonderful holiday season and a fantastic 2019!
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A large part of my business comes from referrals, so if you or someone you know is interested in buying and/or selling, please pass along my contact information and I would be happy to speak with them about how I can help.