Spring 2002 Market Update – Vancouver Real Estate

Things are good and everybody is talking about it! Competing offers, a scarcity of listings and soaring prices�?� but when it hits the front page of the newspaper it's probably a fair guess that it's already over. In fact, the evidence is already out there to suggest that another change is coming. The number of listings is on the rise - the number of buyers is not. This should bring some much needed balance back into the market place. Over the past 6 months the pace has been frantic and if it hadn't slowed down on its own, we could have all been in for a nasty shock. 15-20% increases over 6 a month period are clearly not sustainable and something had to change.