Vancouver Real Estate - a brisk July

As suspected the sales figures for July are showing record increases in transactions in comparison to this time last year - as first time home buyers taking advantage of record low interest rates - were lured into making a move on real estate.  Evan those who entered the market just 2-3 years ago were seeing the advantage of taking a smaller return on their current home to move or buy "up" and benefit from the same reduction on higher priced properties.  The best of both worlds for most in the market - first time buyers are seeing mortgage payments almost equel to monthly rental rates thanks to the low interest rates and ... and those who are buying up in the market are seeing better pricing with the Vancouver market becoming a more balanced market.  It still at times feels like a frenzy out there with many listings in certain price ranges selling in under a week - but at least with a calming of the list pricing - the purchase price keeps everyone in the game.  August continues to be very busy as well - with interest rates starting to inch up - the first time home buyers are still very active and as these sales continue with good return - more owners who were only considering placing their home on the market are listing their homes and keeping the stock fresh with some very nice properties entering the market.  A win win for everyone.

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