Follow me on Twitter!Find me on Facebook!Subscribe to my Feed!

Back to Blog
header

Market Update

What's Going on with the market?

Happy New Year! I hope you had a fabulous holiday season filled with family, friends, and, for those lucky few, tropical climates.

As we enter into 2011, let's take a quick peek backwards before focusing our attention on what lies ahead. December is an often deceiving month statistics wise, as many listings are pulled off the market and most people are otherwise distracted. This is very evident in large decrease across the board in both active listings and sales. Reading anything into any of the price changes in December can be very mis-leading as well, with a relatively small sample size that is easily skewed. Overall though, for December, last month was about what we expected.

Now for the fun stuff... What lies ahead in 2011?

We all know that making predications is a fool's game... and while I don't consider myself a fool, I do know that everyone wants to hear my thoughts for what will happen in the coming months. So, with that in mind, here are a few trends that I expect to see in the first quarter of 2011:

(1) An increase in inventory

With the activity we have already seen in the first week of January, along with the collective buzz from fellow Realtors, it certainly seems like we are due for an increase in listing inventory. This should come as a welcome development for those buyers who have been bemoaning the lack of selection over the past few months.

(2) Stable house prices

I am not expecting a rise in inventory to push housing prices downwards at this stage for two reasons... the first is that there is still a healthy number of active buyers in the market at the moment waiting for that 'right fit' and second, with interest rates remaining low, I believe that buyer demand will remain strong in the early part of the year.

(3) Slow increase in mortgage rates

While I do believe the mortgage rates will climb this year, it appears that they will rise a lot more slowly than many fear. A multitude of factors can still change that, of course, but for the time being it seems that things will mostly stay the course.

If you have any questions, please feel free to fire away. And I hope your 2011 is off to a fabulous start!

Rob



Rob Zwick

Vancouver West - Attached Statistics

Vancouver West Attached Statistics

Read more

Vancouver West - Attached Graph

West_Van Attached graph

Read more

Top of page

Rob Zwick

Vancouver West - Detached Statistics

West_Van_Detached STATS

Read more

Vancouver West - Detached Graph

West_Van_Detached graph

Read more

Top of page

Rob Zwick

Vancouver East - Attached Statistics

East Attached

Read more

Vancouver East - Attached Graph

East attached graph

Read more

Top Of Page

Rob Zwick

Vancouver East - Detached Statistics

east_Van_Detached

Read more

Vancouver - East Detached Graph

east van detached

Read more

Top Of Page

Rob Zwick

North Vancouver - Attached Graph

east_Van_Detached

Read more

North Vancouver - Detached Graph

east van detached

Read more

Top Of Page

Rob Zwick

Vancouver Downtown Statistics

downtown

Read more

Vancouver Downtown Graph

downtown

Read more

Top Of Page

Rob Zwick

LAKE LBJ RETREAT BY DICK CLARK ARCHITECTURE

uniqueHome

The site is located about an hour northwest of Austin. The retreat is sited on a peninsula that served as a private fish camp since during the second half of the 20th century. After spending some time in an existing house on the land our clients decided to create a new space that supported their evolving lifestyle. Wind patterns and the existing tree canopy were crucial influences on the project’s design development. Exterior circulation paths and separate living spaces encourage a connection with the outdoors. Project materials include cast in place concrete, ipe siding and Rheinzink metal siding.

Read more

See more unique homes

Top Of Page

Comments

No comments

Post Your Comment:

*indicates required fields.
Your Name:*
Please note, your email will not be shown publicly
Your Email (will not be published):*
Comment:*
Please type the text as it appears above:
© Rob Zwick of RE/MAX® Crest Realty Westside 1428 West 7th Ave, Vancouver BC | Personal Real Estate Corporation | Site Map