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Brilliant end unit townhome @ "Eagle Point" with garage. Quality wide plank laminate floors throughout. Freshly painted and updated withbeautiful crown moldings. Kitchen features new...
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| Tuesday, February 24, 2009 The Lenfesty Report - January 2009by Darlene Lenfesty on Tue, Feb, 24, 2009 01:08 PM
The Market Today …
Happy New Year – it’s shaping up to be a particularly exciting one!
Our local real estate market has switched from one that wildly favoured sellers to one that now favours buyers. The decline in prices is good or bad depending on your point of view.
Where the byword for years has been “equity growth” we now hear about “affordability” returning.
Where once the market pace was frantic, now it’s more balanced.
Experts are forecasting further declines of about 5% in housing prices but I was happy to see a couple of important statistics turn around already.
For three months in a row (Oct – Dec) we saw the number of active listings decline, and new listings this December were lower than December a year ago. Even more interesting, for the first time in 27 years Vancouver saw more homes sold in December than in November. So perhaps a balance of supply and demand is returning.
We’ll have lots to talk about in 2009: politics, global conflicts, the environment, the stock market, the run-up to our Olympics…
But when it’s time to talk about real estate, call me.
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