Highlights of Dexter’s December 2023 Report
Prices in Greater Vancouver were up 5% in 2023
Vancouver West Side detached prices showed an increase of 11.4% in 2023
Total number of New Listings were the lowest since 2001
Let the interest rate decreases begin
The Buying signal is now
It would seem...
Have you heard the news?
The Real Estate picture.
BOB RENNIE: A DISCUSSION WITH THE HUFFINGTON POST BC:
The New Year has started on better terms than how it finished! With property sales in January 2013 up from December 2012 and the number of new listings coming on market slowing, the result was the Month’s Supply declining in all areas. Energy in the real estate market is returning and with it sales should continue to increase. While not at levels previously seen in the frenetic markets but creating more of a balance, one that will still favour buyers to a degree. With that pricing continues to be a determining factor on listings selling. Properties listed at today’s prices will speak to buyers more than what continues on market at yesterday’s prices. With interest rates continuing at low levels and better sentiment in the economy, a better positive feeling in the market will help to create a better atmosphere. Greater Vancouver: Total Units Sold in January 2013 was 1,374 – up from 1,171 in December 2012; New Listings in January 2013 were down 11% to January 2012; Month’s Supply of Total Residential Listings is down to 10 Months from 12 (Buyer’s Market).
There’s been a lot of bubble talk in Vancouver lately, but I understand that you aren’t buying it.
We really dug into it and looked at the population from 55 to 74 years old. In Greater Vancouver they’re sitting on $88 billion in clear-title housing stock. And that 55-to 74-year-old, they’re very risk-averse right now. They don’t have the money left [in their other investments] that they thought they’d have. So I believe that aging baby boomers are no longer going to buy up like they used to. That $88 billion, it was worth $66 billion in 2006. And even if it comes off a bit, that demographic is going to be buying down. They’re going to start spreading the wealth and helping their kids while they’re still alive because their kids can’t do it without them. That’s going to be a lot of money that’s going to move around the region, and that shows me a lot of buyer support.
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SALES & LISTING STATS FOR JANUARY 2013
Vancouver Westside Houses: Total Units Sold in January 2013 was 83 – up from 49 in December 2012; New Listings in January 2013 were down 31% to January 2012; Month’s Supply of Total Listings is down to 9 Months from 14 (Buyer’s Market).
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seen the documentary Searching for Sugar Man? Well when you are not searching for Ruthie Shugarman, you should check out this great movie. Searching for Sugar Man tells the incredible true story of Rodriguez, the greatest '70s rock icon who never was. Discovered in a Detroit bar in the late '60s by two celebrated producers struck by his soulful melodies and prophetic lyrics, they recorded an album which they believed would secure his reputation as the greatest recording artist of his generation. In fact, the album bombed and the singer disappeared into obscurity amid rumors of a gruesome on-stage suicide. But a bootleg recording found its way into apartheid South Africa and, over the next two decades, he became a phenomenon. The film follows the story of two South African fans who set out to find out what really happened to their hero. Their investigation leads them to a story more extraordinary than any of the existing myths about the artist known as Rodriguez. After seeing this movie, I had to have the poster, I know a different spelling, but I still had to have it - thank you 5th Ave Cinema!
Another online magazine that I now love. And this month features Bailey McCarthy ofPeppermint Bliss, which I also love. This blogger has renovated three amazing homes with an electic style and her latest home is now featured in the February issue of Matchbook magazine. She is a hilarious blogger with a crazy Texan sense of humour. If you don't already follow her...you must.
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