October 1st, 2012, Owen Bigland
October 2012 Market Update
Summer is traditionally a slower time for real estate and 2012 was no
different. Lower sales activity had several prognosticators predicting
that Canada's housing market would see a correction; however, to date,
prices have remained relatively stable in most jurisdictions. In fact,
Vancouver's seemingly inflated Westside saw its average price rise by
15% over August 2011 thanks to a relatively low sales volume and several
significant transactions (this is why last month we talked about how
misleading 'average' statistics can be).
But aside from internal market forces, it's hard not to ignore how
problems in the US and Europe and the resulting economic turmoil will
influence ou ...