My Opinion on Vancouver Real Estate Market for 2012…

 

So first and foremost, a disclaimer! No one in our profession has a crystal ball. The only way to analyze the market correctly is to be on top of your numbers and accurately analyzing the market you’re in…so the idea of making a general prediction for 2012 goes against what my current practice ~ and makes me scratch my head a little at the idea of economic “predictions” in general. My opinion however, is that there’s always an up and a downside to buying or selling at any given moment, no matter the market ~ because no 2 people have the exact same circumstances. The real art of Real Estate and wise market interaction is being able to figure out your own priorities, leveraging and positioning in relation what’s going on in the market around you.

But as for my opinion on a general trend, I would offer this: With 2011 having started off hotter-than-hot in some localized neighbourhoods (ahem, we mean you West Side Vancouver…), the remainder of the year was a toe-to-toe dance between listing inventory (often high, creating a bit of a “buyers market” ~ although only marginally so) against demand. Looking ahead to 2012: I believe that Vancouver is a healthy and sound international market that is consistently being spurred-on not only by international buyers, but by the thousands of (sometimes affluent) Canadians moving here regularly from other parts of the country. While Global economists are predicting a slow-down for Canadian Real Estate, I believe that Vancouver will stay ahead of the curve, trudging forward and basically, staying “flat” or even while other markets might dip.
That’s my two cents. We’ll see how I fare!

 

 

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