Confidence in the real estate market continues to stabilize. With January and February being slow, the total real estate sales are still low to-date. Thanks to the increase over the last five months, the market has returned toward a stable trend, almost reaching last years numbers, and June showing big gains for Vancouver: 1,667 Homes Avg. $701k, 802 Townhouses Avg. $441k, and 1,790 Apartments Avg. $357k.

Real Estate tends to be a good indicator of how well the economy is doing. Real Estate Sales increases do not need rely upon unemployment rate improvements. Those with steady paycheques are taking advantage of the sliding real estate prices and low interest rates. With this, real estate prices stabilize with the increase of buyers and the supply of houses lower than it has been during hot markets.

The beginning of the year saw many first-time buyers, and now the high-end buyers and investors are highly motivated with the low interest rates and housing affordability. While the economic conditions remain dicey, lower real estate prices and mortgage rates are bringing numbers back last seen at the height of the market. As long as the economy continues to perform well, the boom will last.

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