Is the Vancouver Real Estate Market cooling? Realtor, Doug Gibson gives us the rundown on the recent Vancouver Sun article suggesting this, and what it means in the bigger context.
Perhaps you saw the Vancouver Sun headline on May 16, 2016, “Drop in Vancouver-area home sales suggests owners spooked”
The article continues with “Home sales in the Vancouver region appear to have “topped off” in April, despite a record-breaking month in real estate nationwide, according to the Canadian Real Estate Association”.
As Doug points out, this may make it appear that the market is cooling, but it’s not when you look at the context of the numbers.
March had 5,173 sales which is the highest for any month ever recorded by the Real Estate Board of Greater Vancouver. April had 4,781 sales, which is indeed less than March, but still ranks for the highest number of sales for any April on record.
Doug concludes: “It really drives me crazy because they’re incomplete stories. They are cherry picking numbers just to create hype.”
For Vancouver real estate information, call Team Kerr at 604-880-4588
Photo courtesy of Omer Wazir
Register for free to access all we has to offer including premium data and advanced features.
Enter your email address to have temporally password emailed to you. It will be valid for 24h
You can use this dashboard to help your search for a new property.
The save searches tab will show you all the searches you have saved. A saved search will let you come back to view new property listings with your given search parameters. For example if you are looking for a 2 bedroom apartment in Burnaby you can save that search and quickly check for new listings or even get us to send you an email when new properties are listed.
The saved listings tab will show all your saved listings. If you are interested in a few properties and want to save them to come back to later this gives you quick access to that.
