It’s no real surprise that many of the major media outlets are now reporting that the Vancouver real estate market is back on the rise and that low inventory and high demand are the drivers of this miraculous comeback from last Summer. If you’ve been watching my blog for the past 6 months, I have been telling people that we are not in a correction and that sales volume means nothing unless looked at with active listings.

The only reason sales have dropped by 25% to 35% is because we have nothing to sell! Inventory levels are at historic lows but buyers are still out in full force. In this blog I will show you the difference between a real correction like the ones we had in 2008 and 2012 and what the market has been doing since last Summer when the Foreign Buyers Tax was introduced.