Here's a great video from our Real Estate Board President on the current market conditions for Vancouver. If reading stats isn't your forte, Ray Harris breaks it down in a short clip with graphics, stats and explanations. Well worth 2 mins of your time for a quick market update. January 2015 has the lowest inventory of properties available in 4 years, however, the market is still balanced at 17.7%. Meaning it is neither a buyers nor a sellers market, but a balanced one with good opportunities on both sides. With the low interest rates on mortgages currently and a recent forecast that further decreases are still expected from the Bank of Canada, it's certainly a good time to consider securing a mortgage to take advantage of these conditions.
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