Vancouver's October Statistics Released Today. Buyer reaction?
http://www.rebgv.org/sites/default/files/Stats10-08.pdf
The water cooler chat is correct! Sales volume is WAAAY down, and prices continue to edge downward. While this is not good news for many, there are many buyers taking advantage of the huge selection of inventory to preview potential homes looking for bargains.
Just as the top of the market evaporated quickly this past summer, those looking to time the bottom of the market may be disappointed by waiting too long. Soon sellers will withdraw their homes from the market, reducing choices. When prices begin to turn around the inventory may also evaprate. At least the best deals will have gone.
Yes, times are scary. But if you would like specific information on particular building or neighborhoods we can identify some opportunities to consider. Research is the foundation to a good decision, and I would love to help you ascertain the specifics from the broader strokes known as statistics.
Meanwhile, remember to vote in our civic election this month helping to guide the direction of our still wonderful home called Vancouver. -Blair