End User Buyer's most pre-dominant in current market

With Vancouver's current real estate market shift out of the rapid pace from 2001 -2007 to a more normalized market we are seeing certain buyer's departing the market.  No longer do we see speculators consuming pre-sales homes and we know that the end user (people that intend to move into the home) is now the most active buyer in today's market.

This will change the type of construction we will see in the future developments as there will be increased concentration on size, location, price, and product on the planning and design level. Large marketing firms will have to revise their expectations of success and the consumer will need to do the same.  The first weekend of sales will no longer determine a new developments projects success or failure.  Consumers as end buyer's, should and do base their purchasing decisions on whether the listing can satisfy their needs and hopefully their expectations as well. 

New housing values did continue to rise during the first half of 2008 but at a slower pace than previous years. Absorption levels remain lower than in 2007 as the market continues to level off. This decrease in sales present the buyer's with more opportunities and time to consider their purchase.  People can now visit multiple sales centers without having to worry about the development selling out in the first few days as was common during 2001-2007.

Though the volume of activity on the MLS is expected to increase both from the number of re-sales sitting on the market and from investors listing their purchases in buildings from previous years now coming upon completion, sales values and absorption are expected* to increase albeit at a more modest rate.

 

*Jennifer Podmore Managing Partner of MPC Intelligence     
 

Website designed by The Sum