July sets record as the busiest July ever in the Vancouver Real Estate Market
This past July 2009, the Vancouver Real Estate Board reported that it was the busiest month ever in terms of real estate transactions. The turnaround in the Vancouver real estate market is nothing short of miraculous considering in January 2009 we had the worst month Vancouver has ever seen.
Although we've had such a lack of inventory, sales are still high as real estate that has been sitting on the market for some time is getting bought up.
This lack of inventory has caused prices to come back to where they were before the market dropped in April 2008. Low interest rates and affordability were the main reasons for this.
There is still quite a lot of pent up demand so expect prices to increase and hot listings get sold well over asking price as we head into the fall months in the Vancouver Real Estate Market.
For more information on real estate in Vancouver contact:
Peter Raab
Vancouver Real Estate Agent
Labels: real estate in Vancouver, vancouver real estate expert, vancouver real estate forecast, Vancouver Real estate market update
