Things are Good Despite Modest Gains in Vancouver Real Estate Market

According to the Real Estate Board of Greater Vancouver (REBGV), the Vancouver real estate market condition for November, 2013 wasn’t as good as it was in October, particularly for the number of properties that were listed. However, it’s still good, decent, and favourable to buyers compared to its status last year. New listings for detached, attached and apartment properties in Greater Vancouver totalled 3,245 in November. This represents a 17.7 per cent increase compared to the 2,758 new listings reported in November 2012 and a 24.8 per cent decline compared to the 4,315 new listings in October of this year.

Real EstateREBGV also says that the trend for November reflected the overall trend of the Canadian housing market for 2013, where gains were small but steady; it can be said that the housing boom that Greater Vancouver experienced in the previous years is finally slowing down. Despite the downturn in sales, however, it wouldn’t discount the need for reliable real estate services, especially for residential properties for sale, such as those being provided by Vancouver Canada Homes. After all, a large inventory of houses, doesn’t mean that all of them are considered good and decent.

Regardless of it being an attached home, a detached house, or an entire apartment complex, residential properties need to be inspected thoroughly before buyers can get on with the deal. Not only will an inspection identify and deal with any structural problems with the property, it will also give an assessment of all the entire contents of the house, ensuring that the buyer will be aware of everything he or she will be paying for. This is also why buyers need to think carefully when buying foreclosed houses since there is a good chance that these properties weren’t exactly left in pristine condition before they went up for sale.

Buyers also need to act fast if they ever want to get into Vancouver, BC real estate; some experts say that the findings of REBGV and other real estate boards could possibly indicate a halt in Canada’s home construction in the coming months. While this development may be caused by higher prices in residential properties (which was also mentioned by REBGV), it could also indicate a new trend of people living in condos rather than single-unit and townhouses. Should that be the case, however, it won’t change the fact that reliable real estate services will still be needed in the future.

(Article Excerpt and Image from Steady trends continue in the Greater Vancouver housing market, Real Estate Board of Greater Vancouver, December 02, 2013)


About Jean Seguin

Jean Seguin has written 301 post in this blog.