Myth versus Reality: Survey finds Holidays are in Fact a Good Time for Home Buying in Vancouver Area
Survey says that 65% of Home Buyers and Sellers in Vancouver Lower Mainland area would purchase a home in December or January, mainly because they believe there is more negotiating room for lower prices (62%).
Survey says that 65% of Home Buyers and Sellers would purchase a home in December or January, mainly because they believe there is more negotiating room for lower prices (62%). The survey, conducted by Mustel Research Group and sponsored by REW.ca, includes respondents from 17 communities in the Greater Vancouver area, from Hope up to Pemberton (view survey questions and charts).
The finding that potential home buyers in Vancouver Lower Mainland area are interested in purchasing a home during the holiday season dispels the conventional wisdom that real estate transactions during the holiday season are not ideal, with busy schedules and winter weather conditions getting in the way.
“The usual pattern for sellers and agents during the holiday time is to take house listings off the market, said Ian Martin, General Manager, REW.ca. “But in fact there is a real opportunity in the Vancouver Lower Mainland area during December and January for purchasing homes.”
What’s changed? “The survey found that instead of having to find time to tour real estate listings during busy holiday schedules, 74% of those surveyed use the Internet for their main source of real estate information telling us buyers are finding it more comfortable to search for real estate”
This REW.ca survey is part of a larger poll focused on local home buyer and seller behaviours and beliefs. These survey findings provide additional views of the real estate industry, beyond the analysts and economists.
Click here to view survey questions and charts plus selling tips for the holiday season.
The survey was conducted by Mustel Research Group and sponsored by REW.ca. There were 349 interviews completed with residents from Hope to Pemberton, 18 years of age or over who have bought or sold a home or property in the past three years or who plan to purchase/sell in the next three years or so. The 17 communities included in the survey are: Vancouver West Side, Vancouver East Side, Vancouver Downtown, Surrey, Burnaby/New Westminster, North Vancouver, Tri-Cities, Fraser Valley, Richmond, South Delta/Tsawwassen/White Rock, Langley, West Vancouver, Pitt Meadows/Maple Ridge, North Delta, Sea-to-Sky corridor (including Squamish, Whistler, Pemberton), and Bowen Island.
REW.ca is Greater Vancouver’s home for comprehensive online local real estate search. REW.ca is the first local website to bring together real estate buyers, sellers, agents, brokers and developers in one search portal. REW.ca goes beyond property listings to offer a complete consumer guide to real estate shopping with online agent selection and neighbourhood profile information. REW.ca is the online arm of the Real Estate Weekly newspaper and owned and operated by Glacier Media. www.rew.ca
About Mustel Group
Mustel Group is a North American market research company with over 30 years of experience. All of Mustel Group’s senior consultants are members in good standing with the Marketing Research and Intelligence Association (MRIA), and strictly adhere to the Association’s Code of Research Ethics and Rules of Conduct and Good Practice. www.mustelgroup.com
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