As we enter the second week in January the kids return to school, adults return to work, and the extra 5lbs of turkey and mashed potato weight is shed in the gym as you, once again, resolve to get fit. At least for the next few weeks or so!
In housing news, this is normally the time that we see the sellers and agents start to prepare for the spring market. Rewind 3-5 years and this was the time homes were being listed in anticipation of the Chinese New Year and an influx of Asian money to the lower mainland. In more recent years, February and March have still been a time of increased activity - albeit to a lesser degree.
After a strange 2018 of decreased sales, declining sale prices, increased inventory, and increased taxes sellers have to be wondering if 2019 will be their time to sell or just another year of disappointment.
I happen to be feeling optimistic for the 2019 market. This may be delusional. Or, perhaps it's simply my desire to see things finally start to happen for sellers. I feel that 2019 is going to bring great things! Sure, we probably won't see the boom on housing and prices we've seen in the recent past - but perhaps a slow and steady "balanced" market is not a terrible thing. Sellers who aren't leaving the area become buyers and have a lot to benefit from a well thought-out purchase with ample time to negotiate and inspect their new homes prior to committing.
So, from my lips to the Real Estate Gods ear...here's to a great 2019!
After a strange 2018 of decreased sales, declining sale prices, increased inventory, and increased taxes sellers have to be wondering if 2019 will be their time to sell or just another year of disappointment.
I happen to be feeling optimistic for the 2019 market. This may be delusional. Or, perhaps it's simply my desire to see things finally start to happen for sellers. I feel that 2019 is going to bring great things! Sure, we probably won't see the boom on housing and prices we've seen in the recent past - but perhaps a slow and steady "balanced" market is not a terrible thing. Sellers who aren't leaving the area become buyers and have a lot to benefit from a well thought-out purchase with ample time to negotiate and inspect their new homes prior to committing.
Predictably December showed a sharp decrease in inventory for both detached homes and strata titled properties. Any buyers out there now have less selection and will likely be ready to move on a well priced home that shows well. If only, because they can't wait forever. Eventually the need to move outweighs the desire to sit out the market.
So, from my lips to the Real Estate Gods ear...here's to a great 2019!
