While the Real Estate Board of Greater Vancouver reported that
"Over the past six months, the Greater Vancouver housing market has seen a reduction in the number of homes listed for sale, a gradual moderation in home prices and a decrease in property sales compared to historical averages."
“Home sellers appear more inclined to remove their properties from the market today rather than lower prices to sell their properties. On the other hand, buyers appear to be expecting prices to moderate,” Eugen Klein, REBGV president said.
While visiting Galiano Island last weekend to clean the roof gutters of leaves and debris, one of my invited guests mentioned that the market prices for detached properties (houses) appears to be "holding its own" while real estate prices for apartments and townhouses are "taking a hit". An important opinion, I thought, since it came from a senior manager from the BC Assessment Authority.
Dec. 4, 2012
Bill de Mooy, B.Comm.
Macdonald Realty Westmar