February 3, 2010
With all the talk about price bubbles in Canada’s real estate market, it’s a relief to hear a whisper of stability. But that seems to be what the Vancouver Sun is saying today.
While Metro Vancouver home sales in December were nearly three times higher than sales last January, board senior economist Robin Wiebe said new listings also rose keeping the overall market in balance. Vancouver Sun
So…awesome! It seems like supply is keeping up with demand to a reasonable degree so buyers still have choice in the market. Based on annualized projections, the ratio of sellers to buyers is 0.72 which is a bit high, but still within an acceptable range.
Although it could slip into a dangerous zone if supply was to dry up a bit, for now the market is stable AND hot. Those are two words investors LOVE to hear together.