January 12, 2011

Surprising Home Sales Numbers Indicate A Stronger Vancouver Housing Market

Traditionally the winter months are the slowest time of the year for those in the real estate and housing industry.

As people prepare for holidays and winter vacations, home showings and sales typically decline but surprisingly, the last few months actually showed an increase in sales in the Vancouver Metro which indicates a strengthening market. Articles from the Vancouver Sun and CBC News both noted the increase in sales in November 2010 of 7.4% over October's numbers. Stability in housing prices and fewer listings also point to improvements overall in the state of the industry and bode well for both buyers and sellers.

All of this is encouraging news for not only those in the housing industry but for buyers and sellers as well. Stability in prices along with market value increases in the Vancouver area were also in the news. The Vancouver Sun also reported increases in property value going up 12.17 % in Vancouver, 78.84 % in North Vancouver district, and 13.03 % in West Vancouver.  With property values on the rise, investing in homes and land could be a smart move especially with the current historically low interest rates that are available. The British Columbia housing market is holding steady with sales and demand with the Vancouver area posting an average MLS home sales price of $672,111 for 2010.