New sellers are serious sellers.

For much of 2012, we saw a collective hesitation on the part of buyers and sellers in the Greater Vancouver housing market. This attitude and behavior was reflected in lower than average home sale activity and modest fluctuations in home prices.

How does the new year look? The New Year started as they typically do, with less homes listed for sale. Total Residential Active Listings in Greater Vancouver are down 30% from November 30, 2012. Total properties listed for sale during December were down 49% to November 2012 and down 16% to December 2011. While sales in December are down from November 2012 and December 2011, we’ve seen that through 2012 so it is not news. What is the news?  Anyone listing today is a serious seller, and the buyers who have been watching the market know it.  Serious sellers are selling and buying in this market - watch for it in the news to come.

Perspective is the key. People need bigger homes, people need smaller homes, renters want to own and immigration into Vancouver leads to more buyers. As always, the focus will shift from where prices are going to making your living situation better. As we go forward, people will get back to doing what they want and need to do: Moving!  Are you one of them?

Greater Vancouver: Total Units Sold in December 2012 was 1,171 – down from 1,733 in November 2012; and down from 1,700 in December 2011; Month’s Supply of Total Residential Listings is at 12 Months (Buyer’s Market).

Vancouver Westside
Houses: Total Units Sold in December 2012 was 49 – down from 77 in November 2012; and down from 62 in December 2011; Total Active Listings as of January 2013 are down 29% from November 2012; Month’s Supply of Total Active Listings is at 14 Months (Buyer’s Market).

Condos: Total Units Sold in December 2012 was 156 – down from 241 in November 2012; and down from 262 in December 2011; Total Active Listings as of January 2013 are down 46% from November 2012; Month’s Supply of Total Active Listings is at 10 Months (Buyer’s Market).

Vancouver Eastside
Houses: Total Units Sold in December 2012 was 54 – down from 91 in November 2012; and down from 95 in December 2011; Total Active Listings as of January 2013 are down 34% from November 2012; Month’s Supply of Total Active Listings is at 9 Months (Buyer’s Market).

Condos: Total Units Sold in December 2012 was 53 – down from 69 in November 2012; and up from 51 in December 2011; Total Active Listings as of January 2013 are down 32% from November 2012; Month’s Supply of Total Active Listings is at 8 Months (Buyer’s Market).