Low interest rates are continuing to attract first time buyers into the housing market. According to recent reports, single family homes and condos for sale Vancouver continue to offer an appealing alternative to larger properties for sale Vancouver.
Major trends in the market thus include a boom in condo sales and smaller homes that are located in urban environments. More and more people are looking for homes for sale Vancouver in places that are centrally located.
Restaurants, transit, schools and shops in walking distance are what attract younger buyers. Single women especially, who now make up 20 percent of all buyers, are looking for these types of condos and homes for sale Vancouver.
Growth is occurring across the country. Most especially, Calgary and Ottawa have seen gains. The Bank of Montreal released data showing that these places saw gains of 12 percent since March of last year. In Toronto, the market was up 7.8 percent since March of 2011.
Some places are however seeing a slower market. Edmonton and Victoria have both seen prices fall since the previous year. Prices in Vancouver are down by thirty percent from a year ago.
Vancouver realtors are seeing some slow down in the housing market in the area. Condos for sale Vancouver and homes for sale Vancouver are down from peak activity.
Toronto, on the other hand, has seen a large upswing in activity. Single family homes and condos are especially strong at the moment say experts.
Calgary likewise is seeing a strong market. Vancouver realtor groups and realtors Vancouver say however that Vancouver is also seeing a strong demand in certain areas including for instance, the west side.
In the western side of the city, strong demand is being fueled by foreign markets. Investors from China and Middle East are looking to buy in the area.