| Vancouver, just like most other places, has seen a | | | | estate market. |
| surge in real estate prices as well as the sales volume | | | | - Vancouver economic fundamentals in 2010 and |
| in the year 2009. This causes many buyers to wonder | | | | beyond. |
| whether this trend will continue through the year 2010 | | | | - Supply and demand in 2010 Vancouver presale real |
| as well. This article addresses the prevailing trends in | | | | estate market. |
| Vancouver real estate as well as the predicted trend | | | | - Mortgage rates. |
| for the whole of 2010. | | | | - BC Harmonized Sales Tax. |
| In the year 2009, the average price per square foot of | | | | With reference to the above factors, to put the |
| real estate in Vancouver was $165, and this was a | | | | predicted trends for real estate in Vancouver in a |
| 10.7% increased over 2008. The average home sales | | | | nutshell, the forecast for 2010 seems bright. Interest |
| price increased by 0.6% in 2009, while the actual | | | | rates seem to be on the decline and therefore the |
| number of home sales reduced by a whopping 96.5%. | | | | property prices are predicted to go up. Presale home |
| With regard to the homes on sale, Vancouver real | | | | prices are expected to stabilize and even go down |
| estate noted a decrease of 5.3% on the listing price | | | | since there is a HST of 12% added to the purchase |
| for these in 2010, compared to 2009. | | | | price. This is expected to make reselling of real estate |
| The trends vary from year to year. As there are | | | | more attractive. It is expected that the housing |
| many factors that contribute to price changes as well | | | | inventory in Vancouver will remain steady since there |
| as sales volumes, it is not an easy task to predict | | | | will be many projects that will start up, but will take at |
| what this year will bring. However, there are seven | | | | least a year or so to be completed. While the prices |
| factors that affect these trends, and these can be | | | | are likely to increase initially, they will stabilize through |
| analyzed to predict what the year 2010 holds for | | | | the latter half of 2010. However, there is a lot of pent |
| Vancouver real estate. These factors are listed below: | | | | up demand for resale of homes. Therefore, the prices |
| - Consumer confidence and emotions. | | | | of these are expected to continue to be on an |
| - Vancouver population growth and projections. | | | | upward trend throughout the year and the interest |
| - Supply and demand in 2010 Vancouver resale real | | | | rates are expected to go up. |
