RE/MAX Select Properties

So far the traffic has not been an issue here in Vancouver. A number of road closures have required a change in routes for delivers and commutes, but the drivers have adapted. The word on the radio is that transit usage is up, so that might be part of the reason that the congestion on the roads has not been too bad at this point. I did note that there were 5 buses lined up on King Edward at Cambie for the morning commute.

 

On friday the official opening ceremonies will take place. It will be interesting to see how that impacts on the commute from the areas around Vancouver. Friday will most likely set the tone for the functioning of the city around the increased population of visitors to the area.

 

Vancouver Real Estate has not been impacted in any tangible way at this point. Sales and listings continue unabated on the West-Side. The number of new listings is remaining relatively static. There is some indication from a few of our agents that they have clients wanting to wait out the Olympic period before they list or buy, but the numbers do not reflect any appreciable change at this point. If there is some slowing of the market for the games, it will only serve to create a frenzied spring market as the pent up demand will be so much greater.

 

The fundamentals remain strong in the Vancouver area markets. There is presently more demand for housing than there is supply...even given the higher prices in the Vancouver marketplace.