We have alll heard that from the back of our car as we drive to the next destination.  The kids want to know when will we get there.

Sometimes it is hard to tell, because the traffic can change. Slow down, speed up, to give us a hope of getting there quicker, or unexpected accidents along the way may delay us further.

These days the question, When will it bottom? When will this real estate market hit bottom? Good question.

If I would know that, or anyone else for that mather, we would know "exactly" when to buy real estate.

The ideal time to buy is within the last 10% of the bottom of the pricing curve, just before it starts moving up. Easy to say. But when will it happen.

Unfortunately, we only know we have hit bottom when the prices have moved up 4-5%. We can never say fior sure that "we are at the bottom", not until prices start moving up, and than all we can say, I wish I had bought last month.

So, is there a way at all to predict the bottom?

The best we can do is search for signs and follow the activity of the market.

Here are some graphs that show some recent trends:

What does it all mean? It just means that if you are a buyer you better keep a close watch on these trends.
In addition, our board has reported an increase in sales from 38 per day in January to around 77 in the third week of February. Well, everyone knows that January is slow, so this news is not earth shattering. However it's worth to note that the showings and offers have increased, and for the first time at our office we had multiple offers on some properties.

Prices are good, the interest rates are the lowest in the last 30 years or so, and there are a lot of pre-approved buyers.

A very unique situation.
I would suggest to the buyers to get themselves a good realtor and look for deals. They are out there now. For how long? I can't tell you that, but I can tell you the market is not going to move down very much from this point.

Unless??? There is always "unless". If you are buying a place to live in, it is a great time to buy. Even investors are finding deals.

  If you are looking to Buy or to Sell real estate in Vancouver area, give me a call. My consultations are FREE. The benefits to You, may be worth a lot of money.
Call Jeff Stark at 604-506-8481 or email me at jeff@jeffreystark.net