The Hands of Vancouver Real Estate

Choose Your Hand

Our good friend Cameron Muir, the Chief Economist at the British Columbia Real Estate Association offers us a two handed view of B.C.’s residential home sales.

Sales Hand of God

Two Hands

Extended, the hands of Muir point to different results.

One hand, the YOY hand that compares sales of this year to last, holds great promise for a good period of residential home sales. The other hand – the MOM hand, holds sales comparisons less ethereal.

YOY

“Year-to-date, BC residential sales dollar volume was up 10.1 per cent to $36.7 billion, compared to the same period last year. Residential unit sales were up 6 per cent to 68,510 units, while the average MLS® residential price was up 3.8 per cent at $535,411.”

“The MLS® Home Price Index points to relatively stable prices, with the year-over-year change up 1 per cent in Vancouver and down 0.4 per cent in the Fraser Valley.”

MOM

BCREA News Release 2013 12 13

“Average prices were skewed higher last month as the composition of sales in Vancouver and the Fraser Valley tilted toward single-detached homes.”

Sales “eased back from October as slow economic growth and anemic job creation negatively impacted consumer demand, however, “low mortgage rates, however, continue to remain accommodative to housing demand.”

Which Hand Will You Hold

When buying or selling your Vancouver home it is hard to decide which handful of information to take as gospel. In that decision take caution to understand that the statistical information is last year’s, last month’s, old news.

The hand of future Vancouver real estate sales has yet to be extended.

Quotes: BCREA Printed with Permission

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.

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*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.

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