The reflation trade continued in December. Thanks to a swift easing of monetary policy from global central banks, even without the Bank of Canada’s help, asset prices have rebounded, with Vancouver housing being one of the many beneficiaries. Buyers have indeed stepped off the sidelines, prompting sales activity to jump a staggering 88% from last December. However, once again, take that number with a grain of salt considering how weak 2018 sales figures were. Although, from a more historical perspective sales were still 9.5% above the ten year average for the month of December, which suggests relatively healthy levels of sales activity. However, we can’t stress enough how segmented the housing market has become, there is a widening gap between what is happening in the luxury market and what is happening in the more affordable segments of the market. This phenomenon will form the basis of the report this month. Let’s dive in.
Steve is a regular speaker at industry events, hosts an online video series ‘The Saretsky Show’, and authors the popular “Saretsky Report” which is read by over 7000 subscribers.
Want to book Steve for a talk at your event or conference? Get started below.
The views expressed are those of the author, Steve Saretsky, an Oakwyn Realty REALTOR®, and do not necessarily reflect those of Oakwyn Realty. It is provided as a general source of information only and should not be considered personal investment advice or a solicitation.