April Real Estate Market Update
Have things shifted at all in Vancouver’s market?
The above is a screen capture, taken today, from the REBGV site to agents about wait times for processing deals given the increase in sales.
“Reduced demand and increased supply remain the trend across Metro Vancouver’s housing market”
Or at least that’s what the April numbers were showing from the REBGV. But at the tale end of that month, and now coming into May, it looks like sales are increasing. We’re not talking anything dramatic but, anecdotally, activity is on an uptick.
According to Stephen Poloz of the Bank of Canada in an article from the Financial Post:
Looking ahead, he predicted the overall Canadian housing sector to start growing again later this year as the Vancouver and Toronto markets stabilize.
In a news conference following the speech, Poloz offered more details about his take on the two big housing markets.
Poloz said the fundamentals — like population growth and job creation — in those cities have been “really strong” and he expects they’ve “put a floor” under the adjustment process. The still-low interest rates remain quite attractive, he added.
Looking for the full story?
For a complete look at the Real Estate Board of Greater Vancouver April numbers please click on the image below.
The Most Important Question – How Does This Affect You?
If Mr. Poloz, others that echo his sentiments, and what I’ve been seeing here recently is correct then it might be time to start warming up. The bench was comfy and provided a safe place to wait, but this might be your time to get in the game and make some plays!
HAVE QUESTIONS OR NEED GUIDANCE?
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