Vancouver Real Estate’s Happy Place

What Was

The year began with a post about the dramatic downward adjustment in the number of homes for sale in the lower mainland residential market. Looking back, history would confirm that we could expect the number of Vancouver homes for sale to subside in the latter months of a year. The reasons for this subsidence are many but for purpose of convenience they can be lumped together in the preparation for Holiday season category.

Newton tells us that what goes up must come down. The decrease in homes for sale at the end of 2010 certainly fulfilled his law. At some point however, we can also expect that the home market will find that bottom and then for any number of other reasons, find itself rebounding.

Que Sera Sera

The assured question – will the market return to it’s previous level of discomfort or will it strive to find that Vancouver real estate market ‘just right happy place’.

A spot check of the Combined Total Active listings amongst the three boards of the lower mainland we can see that yes, as expected, the number of active listings is beginning to rebound from January low of 13,994 to January’s 15th’s 15,629.

Happy Place

The unknown – should and can we expect that it will return to it’s previous 2010 levels or, will dire warnings of future mortgage interest rate increases and provincial political instability serve to temper this market?

About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

When Life Moves You - contact Larry:

*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

Reader Comments:

Samsonite Says:
January 17th, 2011 at 7:57 am

Hi Larry/others:

Any thoughts on how things will be impacted by the new mortgage rules?

Larry, any coffee talk update? Are realtors still pretty optimistic about 2011?

Thanks!

January 17th, 2011 at 6:24 pm

@sam
Realtors aren’t out buying rope so it seems that the optimism persists.

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