Real Estate Matters – March 2022

Real Estate Matters – March 2022

 

Hello!

We are almost half way through March!  With so much uncertainty in the air including the war in Ukraine, unprecedented inflation, soaring gas prices, and the recent rate hike, we are seeing a larger amount of supply come out in the first week of March.  However, let’s look back at February when price surged yet again!

Are you thinking of selling or moving this year?  Chris Cornborough joins me this week to discuss our thoughts on what the Spring market will bring, and I go a bit in depth with regards to the “COOLING OFF PERIOD” the Minister of Finance brought up, to try to legislate it into RESA (Real Estate Services Act).  In here I talk about the consequences of it, and some much better solutions we can implement before it is legislated.

Please do reach out if we can help you Buy or Sell by replying to this email.

VANCOUVER, BC – March 2, 2022 – The Metro Vancouver* housing market saw steady home sales activity, modest increases in home listings and continued upward trends in pricing in February.

Last month’s sales were 26.9 per cent above the 10-year February sales average.

“As we prepare to enter what’s traditionally the busiest season of the year, the Metro Vancouver housing market is seeing more historically typical home sale activity and a modest uptick in home listing activity compared to last year,” Taylor Biggar, REBGV Chair said.

“Despite having a higher volume of people listing their homes for sale in February, the region’s housing market remains significantly undersupplied, which has been pushing home prices to new highs month after month,” Biggar said

“A lack of housing supply is at the heart of the affordability challenges in Metro Vancouver today. We need more coordinated action from stakeholders at all levels to help create an ample, diverse supply of housing options for residents in the region today and into the future,” Biggar said.

Looking to sell or move?  Please reply to this email and I’d be happy to chat with you!  I truly would love the opportunity to work with YOU!

Please click below links for your complimentary updated Vancouver Real Estate statistics package.

 

Detailed Real Estate Board Statistics Package