Vancouver Home Sales Rebound with 64% Increase over Last Year

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Sam Huang, Vancouver real estate pundit said recently, “While some say that the spike in sales is just a rebound from last summer’s national slump, the numbers indicate a housing market that has made a healthy recovery.”

Sam Huang, Vancouver real estate pundit said recently, “While some say that the spike in sales is just a rebound from last summer’s national slump, the numbers indicate a housing market that has made a healthy recovery.”

The Real Estate Board of Greater Vancouver announced that “There were 2,483 residential properties sold in the Greater Vancouver area in September, which is in line with 10-year averages for that month and 1.2 per cent lower than August.”

Mr. Huang, of UBCHomes.ca says adds, “Don’t be fooled by the staggering headline numbers. A rebound like this simply says the housing market fell off the tracks in 2102. But in 2013 it’s regained control and we’re back on track. The downturn in 2012 was due to the stricter mortgage rules that passed that summer. After the numbers were released for September this year, it’s obvious sales have regained momentum and I feel they will continue to stabilize in the coming years."

The national increase in home sales these past months is a good sign that the market is stabilizing because it shows people are less affected by the passing of stricter mortgage rules. On October 15th, during an interview with CBC news, Gregory Klump, Canada Real Estate Association’s chief economist says that "While the momentum for [national] sales activity began improving a few months ago, it may be losing steam after having only just climbed back in line with an average of the past 10 years.”

For more information on Sam Huang, visit his website at UBChomes.ca, or call 778-732-0373.

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Ken Lapp
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