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January 2013 Real Estate Board of Greater Vancouver Statistics Package

REBGV Stats Package, January 2013 by January home sales remain quiet Home buyer demand remains below historical averages in the Greater Vancouver housing market. This has led some home sellers to remove their homes from the market in recent months. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,351 on the Multiple Listing Service® (MLS®) in January 2013. This represents a 14.3 per cent decrease compared to the 1,577 sales recorded in January 2012, and an 18.3 per cent increase compared to the 1,142 sales in December 2012. Last month’s sales…

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Vancouver Real Estate Overpriced?

Is Vancouver Real Estate Overpriced or Underpriced? From time to time I am asked if Vancouver Real Estate is overpriced. This is a very difficult question to answer and here's why: Compared to Where? Overpriced is a relative term.  Is Vancouver overpriced compared to where? Edmonton? Calgary? Seattle? Moose Jaw? Many factors determine real estate prices. City and regional economic performance, security, climate, popularity, openness to international immigrants, tolerance, Fiscal and Monetary policy, architecture, size, population, density, geographic barriers to growth, I could go on and on... are unique to every City. The unique mix of the above factors has…

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When will Vancouver Real Estate Prices Hit Bottom? Beware of Those Telling you its Happening as its Happening!

Hi All, Pretty much everyday someone asks me when prices in the Vancouver real estate market will hit bottom and everyday I say I don't know. I say I don't know, because I don't have a crystal ball and can't see the future and as I licensed Realtor I can be liable if people take a hit relying on my predictions. There are people out there who are saying they KNOW when the prices will hit bottom and they can tell when prices are bottoming as they are hitting bottom. Don't trust these people! What happens if prices stabilise and…

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