faithwilson | Christie’s International Real Estate’s exclusive and comprehensive Market Analyses for April 2021 have arrived.
Taking the headlines with a big grain of salt
You have likely noticed the recent headlines blaring news that April sales were more than 342 per cent higher than in April of last year to hit a record high for the month, and also that some pundits are forecasting a looming slump in the market because April sales were slightly lower than in March.
I, and many of my clients have been in the Metro Vancouver housing market long enough to know that temporary gyrations in buying and selling cycles, and the comments about it, mean very little in real life.
I recall not long ago we were told that our entire industry depended on what foreign buyers were thinking. Last spring, the federal government was warning of a pandemic-induced plunge in housing sales. Yet this April, more than 7,000 homes were sold in Metro Vancouver, including 1,316 in the City of Vancouver, where an average of 43 homes sold every day.
Buying a home is a deeply personal and important decision that is based on the real needs of the people and the families involved. When someone wants to buy or sell a house they don’t turn on the news, they turn to a trusted real estate agent.
We at Faith Wilson Realty Group are so pleased to be here to serve our clients and help guide them through what, in these days of masks, virtual tours, physically distancing and a very hot market, can be a demanding and complicated process in any sale transaction. That so many have chosen to buy and, or sell a home this year is a testament to the fact that folks are simply reevaluating their lifestyles, for themselves and their families, in these challenging times.
So, where is the Metro Vancouver housing market headed? In the short term, we expect that the market will begin to balance out somewhat, as buyer demand becomes somewhat satiated. Longer term? There are so many market conditions that come into play both locally and on the world stage. Experience and market knowledge are key to making well informed decisions. What we know historically is that we are a very desirable place to be, and this will only become stronger as we move forward in this century.