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Vancouver real estate market dips in December
Vancouver real estate market dips in December Linknet Real Estate News - January 9, 2006Rising mortgage rates since July of 2005 finally took their toll in December in the Vancouver area. According to Credit Union Central, December sales dropped slightly to 3,261 transactions, down from the August high of 3,941. The same trend was evident in the Fraser Valley where sales were 1,476 units in December, compared with 1,740 in November, and down from an August high of 2,185 units. While still a seller's market, it is not as tight as earlier in 2005, and the rate of price increase has slowed. Some analysts predict sales will stabilize as interest rates continue to climb. Increases in rates are expected later in January and again in March. If rates start coming down again the the 2nd quarter of 2006, house sales are expected to take off again. Inside Real Estate Kitchener-Waterloo Real Estate
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