It's the most wonderful time of the year (for house hunting)Has Canada’s hot housing market started to skew traditional buying patterns? It sure looks like it, according to a new Real Estate Weekly survey.
December and January have long been seen as a slow time for real estate buyers, as many are too busy with holiday schedules – or dodging bad weather – to take the time to house hunt. That seems to be changing, however – particularly in highly competitive markets like the Vancouver Lower Mainland. According to the survey, the majority of buyers (74%) in this area are using the Internet to search for real estate information, and many are no longer deterred by bad weather if it means they can buy a home without partaking in an intense bidding war.
That being said, many of these buyers are out to find a deal – something a lot of non-desperate sellers would like to avoid. So inventory still dropped by over 40% during these two months as sellers wait for the spring market. This inventory dip main change over time, however, as more buyers show an interest in December and January listings. Only time will tell!
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