Beware of National Housing News

Posted by Liliana Sorescu on Tuesday, April 22nd, 2014 at 4:43pm.

News reporters may be trying to bring you accurate news about the housing market, but unless they're reporting facts and figures for real estate sales in Vancouver what they're saying could be completely inaccurate regarding our market.
 
Even if they're quoting agents in your general vicinity, they could be wrong.
 
For instance, I recently reviewed four real estate articles written about the market in cities within about a 200 mile radius. Three articles said the market was booming, with only 2 months' worth of inventory. The fourth article talked about the slump in sales and the number of never-occupied homes still unsold.
 
The real estate market is always local, so while it may flow along following national or regional trends, it may not. It depends a great deal upon the economy in any given community and it may also depend upon how many new homes were ready for occupancy when the market crashed.
 
Two cities just a handful of miles apart could be experiencing completely different real estate markets.
 
So how can you know the truth about the market here in Vancouver?
 
Easily – just ask me.
 
I compile data based on recent sales and write a current market report every (month, quarter, or?) My report includes selling prices, days on the market, and the difference between today's prices and last month's or last year's. It shows how many homes are on the market and how many of those homes are either bank-owned or short sales.
 
In short, it's a snapshot of the market as it is today, right here in Vancouver
 
To get your copy, call me at 604-607-5474 or drop me an email at info@vancouverrealestatehomes.ca
 
I'll get a copy out to you right away.
 
Liliana Sorescu
Sutton Group West Coast
 
 

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