Folks, if you are a Buyer, you might want to consider that the time has arrived. Prices came down considerably during the post-recessionary period after 2008. Interest rates have held steady at near-record lows. The inventory of available homes is also good.
I don't see prices coming down any further here. The national media has reported an oversupply of new condos in Vancouver and Toronto. That's not the case here. Overall sales volume was down here about 20% in 2012. There is a built-up supply of buyers who have been waiting.
I see 2013 as being in a steady state in terms of pricing with possibly an upturn in 2014 based on whatever happens this year with sales.
I anticipate a very good year for sales in 2013.
Our market picked up considerably at the end of January and continues to pick up speed. With a miserable winter on the prairies, many people from Alberta and Saskatchewan are showing up here looking at homes. Many are also returning home to get their homes listed after seeing for themselves that the crocuses have been blooming for a few weeks and the daffodils are up and just about to bloom here.
It's interesting to see locals buying who see the deals and are prepared to move on them, thereby upsizing, downsizing, moving to better neighbourhoods etc.
That's my 2 cents worth for now.... Cheers.