The Federal Government hit the Canadian real estate market on the head with a hammer in Spring 2012 which sent it reeling but the housing market has proven to be more resilient than the Doomsday predicitons and has bounced back in 2013, with expectations that the last half of this year will perform better than the first half. The market is stablizing after undergoing a government induced soft landing.
Sales in June increased across the country. Some Vancouver real estate has dropped as much as 20% from the peak. While we do not expect to see a jump on prices any time soon, neither do we expect to see another big drop but perhaps a flat market for a while. As the listings decrease the buyers are still dealing with a good selection of properties and there are less highly motivated sellers in the market than there was last fall.
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