It is about that time again and I thought I’d provide you with a market update. The market right now is still slow but there has been more activity in the past few months this year then there was for the past couple years. It definitely is showing that the market is starting to take a turn for the better and we are hoping for an active spring. There is a lot of competition on the market right now which means now more then ever your home needs to be priced properly.
Price is everything and to remain competitive you must be priced right. Everything low end and everything high end has to move before the middle starts to move. We do expect the middle end prices to start moving in 2012. Prices are not expected to increase but remain quite stable. On a positive note, banks are keeping the interest rates lower and encouraging buyers to purchase through offering a hold on their interest rates for approximately 90 days. In the broader market, Vancouver is starting to pick up, which is a good indication that the market will starting to see good things. Once Vancouver picks up it starts to trickle its way down and we usually start seeing the effects within 4-6 months depending on the market. Click the link below to view stats.