When will Vancouver Real Estate hit bottom?
That is a question I get asked all the time. Like I have said in comments my post on Why Vancouver Real Estate Prices Go Up and Down, if I knew when the Vancouver Real Estate Market was going to bottom, I would no longer be working...
What we can say for sure is where the market is going over the next little while and this is based on the consensus of expectation.
There is a general consensus in Vancouver among buyers and sellers of real estate that prices will continue to fall and buyers and sellers are acting accordingly.
We will see the bottom of the Vancouver Real Estate market when buyer and seller expectations diverge and the consensus is broken. Buyers will still be thinking prices are coming down and sellers will have some good news to give them hope that if they hold there will be hope going forward of hight future prices. Price will start to rise and a new consensus will form based on rising prices.
I can't wait!
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