The Spring market is here and so are house sales in the Fraser Valley.  Sales are up as we saw 1,298 re-sale homes sell in the month of April which is up 7.9% from last April.  We are also seeing less homes for sale as the listing inventory is down by -2.0%when we compare the amount of homes that were on the market this April compared to the same time last year.

So for April 2014... we experienced a "Balanced Market" because the list to sales ratio was 19.89%.  It is a "Balanced Market" when the ratio ranges from 15% to 20%.  It is deemed to be a "Buyer's Market" when we are below 15% and a "Seller's Market" when we are above 20%.

We finished April with 5.33 months of inventory.  That inventory level tells me that prices are fairly flat because around…

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The Spring market is here and so are the sales for Greater Vancouver.  Sales are up as we saw 965 homes sell in the month of April which is up 13.9% from last April.  We are also seeing less homes for sale as the listing inventory is down by -9.3% when we compare the amount of homes that were on the market this April compared to the same time last year.

So for April 2014... we experienced a "Seller's Market" because the list to sales ratio was 29.61%.  It is a "Balanced Market" when the ratio ranges from 15% to 20%.  It is deemed to be a "Buyer's Market" when we are below 15% and a "Seller's Market" when we are above 20%.

We finished April with 4.15 months of inventory.  That inventory level tells me that prices are rising.  When inventory is…

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The Spring market is here and so are the sales for Metro Vancouver.  Sales are up as we saw 1,656 homes sell in the month of April which is up 15.1% from last April.  We are also seeing less homes for sale as the listing inventory is down by -6.4%when we compare the amount of homes that were on the market this April compared to the same time last year.

So for April 2014... we experienced a "Seller's Market" because the list to sales ratio was 22.29%.  It is a "Balanced Market" when the ratio ranges from 15% to 20%.  It is deemed to be a "Buyer's Market" when we are below 15% and a "Seller's Market" when we are above 20%.

We finished April with 4.83 months of inventory.  That inventory level tells me that prices are rising.  When inventory is around 5…

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I can't believe it's Spring and the 1st quarter of the year is done.

I have analyzed all of the stats for the 1st Quarter and here are some insights to our market right here in the Fraser Valley:

19.42% of the houses that come on the market are selling on average.  That trend is increasing and part of that increase is seasonal.  However, these are some factors that are causing our 1st Quarter activity to be stronger than it was last year:

1) Interest rates: The big banks have reduced the mortgage rates to be back at our all time low levels again.  5 year borrowing is under 2.99% and the prime rate is at 3.0%. 

2) Confidence in the market:  Prices are stable as the market activity have picked up. We are shifting from a Buyer's Market to a Balanced Market.

3)…

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I can't believe it's Spring and the 1st quarter of the year is done.

I have analyzed all of the stats for the 1st Quarter and here are some insights to our market right here in Greater Vancouver:

24.2% of the houses that come on the market are selling on average.  That trend is increasing and part of that increase is seasonal.  However, these are some factors that are causing our 1st Quarter activity to be stronger than it was last year:

1) Interest rates: The big banks have reduced the mortgage rates to be back at our all time low levels again.  5 year borrowing is under 2.99% and the prime rate is at 3.0%.  

2) Confidence in the market:  Prices have not declined as the market has maintained it's balanced state since the summer of last year and into the new…

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it's Spring and the 1st quarter of the year is done.

I have analyzed all of the stats for the 1st Quarter and here are some insights to our market here in Metro Vancouver:

20.7% of the houses that come on the market are selling.  That trend is increasing and part of that increase is seasonal.  However, their are some factors that are causing our 1st Quarter activity to be stronger than it was last year:

1) Interest rates: The big banks have reduced the mortgage rates to be back at our all time low levels again.  5 year borrowing is under 2.99% and the prime rate is at 3.0%.  

2) Confidence in the market:  Prices have not declined as the market has maintained it's balanced state throughout the winter and into the new year. Market sales activity have picked up…

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