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Real estate market stable at year-end... VANCOUVER, B.C. – January 5, 2011 in 2010. Continued buoyancy from the post-recession recovery began the year, followed by a summer lull and, throughout the fall, a sustained period of stability.
“The last two years have been a bit of a rollercoaster for the real estate market. However, sales over the past six months have definitely shown a trend toward stability. We think that’s good news for home buyers and sellers,” Jake Moldowan, REBGV president said. “The Greater Vancouver housing market experienced a modest increase in home prices in 2010, and a continual decrease in the number of properties being listed for sale.”
“Although we saw some pressure on home prices throughout the year, home values in 2010 remained relatively steady in the region compared to the last few years when we witnessed much more fluctuation,” Moldowan said.
With current market statistics and analyses, there is no doubt that our market is more stable than ever and will continue to grow at a steady rate over the next few months, gearing up for a fair spring market. With positive factors in our economy like new immigration, plenty jobs, and low interest rates, there is no doubt that this is a great time to enter the real estate market. Whether you are buying your first home or looking for an investment, your Home Representative will assit you in all your Real Estate questions. Contact me for current market statistics and forecasts especially in your mediate area.
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