December jump in housing sales caps 2009 rebound

January 8, 2010

Below is a Vancouver Sun article by Derrick Penner, dated January 6, 2010.

Seller’s market in most Metro areas expected to continue until mid-2010

After plummeting to lows not seen since the 1980s, Lower Mainland real estate markets saw a rush in the second half of 2009 that pushed sales well above an economically challenged 2008 and prices back on an upward slope toward previous peaks.

Aided by the slashing of mortgage rates, cut to the bone in step with the Bank of Canada’s measures to stimulate the economy, new buyers poured into the market.

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