subject: Vancouver Real Estate is Golden for Sellers [print this page] Vancouver Real Estate is Golden for Sellers
Vancouver may be experiencing a golden moment in time. According to the Teranet National House Price Index, Vancouver housing climbed up by .6% for this month. The Teranet index measures price changes for sales of single-family homes in six areas. The market is cooling under the force of the slowly growing economy. The overall market in the Vancouver real estate market will not show a great amount of improvement until later this year. Apparently, the real estate investors are taking a breather to see what happens to the interest rates and to the stability of the market.
Canada's housing market is in a bind from the recent developments of the economy and government regulations. However, overall prices were up 5% from the previous year, the smallest growth in a 12-month period. The Vancouver market may have grown more if the financial crisis was not as severe. The real estate venue shifted into high gear in 2009 and the early parts of 2010 to break the global movement to pencil double-digit gains. The property boom helped Canada root itself from the recession but now face trouble with the high priced properties and the shameful mortgage laws.
The golden market is between now and mid March for buyers and sellers to convene. The best markets to buy in are Toronto, Ottawa, Calgary, Halifax, Montreal and Vancouver. The previous five markets have suffered a dip in prices and makes for a good time to invest. Vancouver on the other hand went the opposite direction of her sister cities. Vancouver rose by 5% in prices. The inflation of the interest rates will cap the esteem properties in Canada but the reaction of the Canadian banks will have the final affect on the real estate markets.
The mortgage laws are nothing but an annoying road bump between sellers and buyers. The housing market prices are above the prices in the United States, which suffered from a meltdown in the real estate venue. The markets in Canada are only seeing a small slowdown in prices; Vancouver offers tremendous value to the investors. The potential in Vancouver is only restricted by the purchasing power and credit of the investor. The capital growth for commercial and real estate will bloom again, once the temporarily speed bumps are dealt with by the banks. The banks will have to gradual decrease the interest rates to a comfortable level for everyone involved in the real estate market.
