| Wednesday, December 9, 2009 WHAT WILL THE RESIDENTIAL HOUSING MARKET LOOK LIKE AFTER THE OLYMPICS?by Antoine Mandy on Wed, Dec, 9, 2009 10:29 PM The second half of 2009 has seen a massive resurgence of residential home sales in Vancouver. After a busy 7 months filled with fierce buying pressure, and relatively low inventory, multiple offers seem to have become standard practice. Sales always slow down for December and as seen in other Olympic cities we can anticipate very few sales (if any) during the games but the real question is, what will happen afterwards. According to Bob Rennie, one of Vancouver's leading real estate marketers, prices will hold and remain stable. Compared to recent years, sales are high and inventory is low. 2008 saw few sales but in comparison to 2007, a strong year for real estate, the last 7 months of 2009 have been stronger. |
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