Its spring time in beautiful Vancouver, fresh off the tremendous success of the Olympics, looks like a lack of inventory in the housing market will be the greatest challenge across Canada, according to the ReMax Market Trends Report 2010. Canadian buyers have been busy, and with the harmonized sales tax on it's way in B.C. and Ontario, tighter lending criteria , and interest rates expected to only go higher, homebuyers will likely get busier leading into this summer." Affordability is the catalyst for the vast majority of purchasers in today's housing market, says Re/Max regional executive vice-president Elton Ash. While home ownership is still within reach in many major centers, levels are slipping. There’s a growing sense, on both sides of the fence, that the time to act is now." We are in for a much heated spring market that will in all probability, spill over into the summer months as the window of opportunity draws to a close. Buyers are still taking advantage of favorable conditions, but sellers, too, are reaping rewards. Competing bids are a factor in the marketplace once again, with well-priced listings-especially at the entry level price point- experiencing multiple offers. Properties priced at fair-market value will likely sell quickly for top dollar, and overall pressure on sales and price likely won't subside unless more inventory is released, which is what I see happening as I write this blog! See you next time with more info.
Monday, May 3, 2010 - Vancouver hits $ 1 Million Milestone
Tuesday, April 13, 2010 - Spring Market
Tuesday, March 2, 2010 - Sales will Rise
Monday, March 1, 2010 - New Federal Mortgage Rules
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