Vancouver Real Estate News June 2019 (Part 2)

Vancouver Real Estate News June 2019 (Part 2)



in an interesting turn of events we're finally seeing an uptick and bioactivity sales in May were up by 44 percent compared to April and after many months of sales being down by about 40 percent compared to ten year average volumes in May they were down by just 22% hi Sean Brown here with the West Haven group and this is part 2 of my June market update this is likely due to prices having come down by just enough to present some great opportunities to an increasing number of buyers this is also likely due to buyers having a renewed sense of confidence in the market given that after over a year of dampened activity prices did not crash they just pulled back a little I think also that many buyers believe that we are at the bottom of the price decline and that this is likely the best time to pick up a good buy may condos in Greater Vancouver register to 21% sales to Actives ratio this is technically considered a seller's market we'll see if this was a one-off month or the beginning of an ascent backed with typical busy Vancouver market either way I look the opinion that the actual demand to buy in Vancouver since the slowdown began did not decrease population did not decrease employment did not decrease hence I feel that there is pent up demand that's going to reveal itself as more and more buyers get comfortable enough to re-enter the market I'll keep you posted as always message me should you have any questions about anything real estate thank you and have a great day if you found that helpful and informative you can subscribe by clicking here thank you so much for watching

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