{"id":11415,"date":"2019-01-17T11:11:36","date_gmt":"2019-01-17T19:11:36","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=11415"},"modified":"2019-01-14T11:58:46","modified_gmt":"2019-01-14T19:58:46","slug":"seller-think-market-isnt-so-bad-%e2%80%a2-buyers-think-market-will-continue-to-correct","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/01\/seller-think-market-isnt-so-bad-%e2%80%a2-buyers-think-market-will-continue-to-correct\/","title":{"rendered":"Seller Think Market Isn&#8217;t so Bad \u2022 Buyers Think Market will Continue to Correct"},"content":{"rendered":"<p style=\"text-align: justify;\">VANCOUVER (NEWS 1130) \u2013 Vancouver\u2019s residential real estate market is at standoff that doesn\u2019t appear to have an end in sight.<\/p>\n<p style=\"text-align: justify;\">The city saw a 26% drop in sales of all types (condos, attached and single family homes) last year over 2017 and that has created two diverging points of view, says Sotheby\u2019s International Realty Canada President and CEO Brad Henderson.<\/p>\n<p style=\"text-align: justify;\">\u201cThere are more properties on the market than there are buyers and there is a mismatch between buyer expectation and seller expectation. So sellers think that the market isn\u2019t as bad and buyers have an opposite view \u2014 they think the market is going to continue to correct and therefore prices will be lower in the future.\u201d<\/p>\n<p style=\"text-align: justify;\">Sales in the city\u2019s condo market did dip, but it remains the most affordable and resilient option. Meanwhile, Vancouver\u2019s single-family home market registered a third consecutive year of declining sales activity.<\/p>\n<p style=\"text-align: justify;\">The firm\u2019s newly-released 2018 Year End Real Estate Report points to a \u201cbarrage of government and regulatory interventions compounded by gradual mortgage rate hikes\u201d for the slowdown in sales of homes over a million dollars.<\/p>\n<p style=\"text-align: justify;\">Luxury sales \u2014 homes valued at over $4 million \u2014 fell even further, with a 49% dip.<\/p>\n<p style=\"text-align: justify;\">\u201cWe saw the government add another five percentage points to the foreign buyers tax and then introduce a couple of other taxes on top of it. That is what\u2019s led the Vancouver market to slow down more than the Toronto and Montreal markets,\u201d Henderson said.<\/p>\n<p style=\"text-align: justify;\">That has just furthered the standoff as those looking to sell somehow hope to turn back the clock.<\/p>\n<p style=\"text-align: justify;\">\u201cSome sellers are pining for the historical times, when market values were much higher. Whether that\u2019s 2016 or 2017, they\u2019re pining for those days. Whereas the buyers are feeling there\u2019s a reduction in the amount of activity and therefore if they wait, they\u2019ll get a better deal. That mismatch is primarily what has been driving the reduction in activity,\u201d Henderson said.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.citynews1130.com\/2019\/01\/09\/buyer-seller-standoff-vancouver-real-estate\/\">Buyer\/Seller Standoff Behind Vancouver Real Estate Sales Dip<\/a> by Simon Druker | News 1130<\/p>\n","protected":false},"excerpt":{"rendered":"<p>VANCOUVER (NEWS 1130) \u2013 Vancouver\u2019s residential real estate market is at standoff that doesn\u2019t appear to have an end in sight. The city saw a 26% drop in sales of &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/01\/seller-think-market-isnt-so-bad-%e2%80%a2-buyers-think-market-will-continue-to-correct\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-11415","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Seller Think Market Isn&#039;t so Bad \u2022 Buyers Think Market will Continue to Correct &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2019\/01\/seller-think-market-isnt-so-bad-\u2022-buyers-think-market-will-continue-to-correct\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Seller Think Market Isn&#039;t so Bad \u2022 Buyers Think Market will Continue to Correct &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"VANCOUVER (NEWS 1130) \u2013 Vancouver\u2019s residential real estate market is at standoff that doesn\u2019t appear to have an end in sight. The city saw a 26% drop in sales of &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/seller-think-market-isnt-so-bad-%e2%80%a2-buyers-think-market-will-continue-to-correct\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/seller-think-market-isnt-so-bad-%e2%80%a2-buyers-think-market-will-continue-to-correct\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Seller Think Market Isn&#8217;t so Bad \u2022 Buyers Think Market will Continue to Correct\",\"datePublished\":\"2019-01-17T19:11:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/seller-think-market-isnt-so-bad-%e2%80%a2-buyers-think-market-will-continue-to-correct\\\/\"},\"wordCount\":352,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/seller-think-market-isnt-so-bad-%e2%80%a2-buyers-think-market-will-continue-to-correct\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/seller-think-market-isnt-so-bad-%e2%80%a2-buyers-think-market-will-continue-to-correct\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/seller-think-market-isnt-so-bad-%e2%80%a2-buyers-think-market-will-continue-to-correct\\\/\",\"name\":\"Seller Think Market Isn't so Bad \u2022 Buyers Think Market will Continue to Correct &#8226; 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