What Happened in the Market in March?
Spring brings a cooler front
We are approaching the Spring Fling of real estate, the time when winter coats are shed and open houses are a buzz. 2014 kicked off with all intentions of warming up to a hot market, however March brought in a cooler front.
Spring Break could have been a factor, keeping Buyers busy elsewhere. Or the anticipation of better options that may hit the market in the coming months. Plus with January and February sales numbers, showcasing increases of over 100% in certain areas, the market may just be returning to a more sustainable pattern. Though sales are above last year, the market has slowed.
"March home sales in Greater Vancouver outpaced last year’s total yet lagged the region’s historical average for the month" states the REBGV. Read full article.
The one constant is that we live in a city with neighbourhood pockets, each with their own market. If you are considering a move, let me provide you insight into your specific area and how it relates to the market as a whole.
“Home prices in the region have experienced incremental gains in most areas and property types over the last 12 months,” board president Ray Harris said in a statement. “It’s important to remember that this is a diverse marketplace and trends will vary depending on area and property type.” Read full article.
Welcome to Spring!