Residents of both Canada and Vancouver can get excited for next year’s Housing and Real Estate trends as the biggest Real Estate Company in the nation, Re/Max, predicts an exceptionally healthy year in 2014.
A mix of both the quantity and the quality of the market will increase for the better, according to the real estate giant. Re/Max predicts that 2014 will bring over 475,000 homes sold with an increase in the average home price to a startling $380,000 per unit. However, these numbers reflect the average home price in Canada not that of the Vancouver area.
Luckily, however, RE/Max offered numbers for the Vancouver metro area as well. Their predictions are looking for an increase from an average selling price of $765,000 to $800,000 across the board. This means a $35,000 difference in home prices is expected to hit the Vancouver area in 2014. This is great news for home owners, but rather disappointing and discouraging news for home buyers looking to make a purchase in the 2014 season.
Vancouver is also expected to sell an additional 1,000 homes. Of course, if this follows the trend of last year’s predictions Vancouver could be in for a hot market ride in the coming year. 2013 saw a 10 percent increase in the total outlook of home sales in Vancouver.
The reason behind this massive growth and the heating up of the market in 2014 will come directly from the growth of this year. An overflow of market interest and economic stability will continue to contribute to home prices and a steady market over the next year in Vancouver and in the nation at large. Of the 23 markets surveyed by Re/Max Vancouver is expect to see a solid 5 percent increase in the average cost of residential homes by the end of the year.
As property in Vancouver grows in popularity along with the size of its population, homes and residents will be harder to find. The mountains and ocean create a barrier that makes it impossible to continue to grow the city out. Therefore, condos and apartments will be in high demand over the next year. Obviously, this will also create a price increase that may make it difficult for first time buyers to get in on the action.
According to Re/Max and other real estate trend forecasters, now is the perfect time to buy property in Vancouver and it will only continue to be over the course of the next year.
Have you prepared for the coming year real estate surge? List your home with most experienced Vancouver luxury real estate [http://cliffzhourealty.com] agent. More Vancouver housing market update and trends at [http://cliffzhourealty.com]
Article Source: http://EzineArticles.com/8193746
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