Landcore BC released their first quarter report on residential sales throughout BC. Landcore is a key resource that lenders, media, government, economists, academics, developers and Realtors depend on for accurate market information. Each quarter Landcore provides a provincial overview and an analysis of specific geographical areas throughout BC. The analysis makes some conclusions regarding current market trends and provides insightful forecasts.
Overall the message seemed positive. I thought this quote was especially optimistic: “For Q1 2009, property sales indicators confirm the market may be nearing bottom given the clear upswing in residential sales. Lower prices and lower mortgage rates are moving more potential property buyers off the fence and into the market. This sales rebound is forecast to continue into the summer months, as property buyers increasingly recognize that the economic recession is likely in its later stages and property sales have turned the corner and are gaining moderate strength.”
That seems to sum up the question on most buyer and seller’s minds… are we at the bottom yet? I found this report helpful in trying to answer that very difficult question. Click the link to check it out!
https://www.landcor.com/market/reports/Q1_09_Quarterly_Report.pdf
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