Market Update2019 has been a transitional year. The higher end market has dropped off considerably but the lower end has shown signs of resiliency. We see that trend continuing to develop in
Fall 2019 Updates
Dated: 10/12/2019
Views: 2103
Market Update
2019 has been a transitional year. The higher end market has dropped off considerably but the lower end has shown signs of resiliency. We see that trend continuing to develop in the fall market. We feel the condo and townhouse market will be more affected by any changes to mortgage rules, buyer taxes and/or incentives. The higher end detached market is more influenced by offshore money flows, currency fluctuations, and other economic factors. We continue to hear Chinese buyers “can’t get their money out.”
Brokerage Change to EXP
We’re excited to announce we’ve partnered with eXp Realty. Their technology-focus and backend software will provide us with the tools we need to best serve our clients going forward. A 2018 Inman Innovator Award winner, eXp is one of the fastest growing brokerages in North America and we look forward to the cutting-edge support we can use to support our clients.
Vancouver Fall Home Show
We have a few complimentary tickets to the Vancouver Fall Home Show on Oct 24-27. Please contact us if you'd like to go.
Keep Biking!
Cheers,
Brad + Theo
1 comments in this topic
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At the moment prices are rising because no one wants to sell rather than because more people are buying. There are a lot of apartment buildings in Metro Vancouver nearing completion. As these complete in 2020, and people move out of their rental or sell their current home, it will be interesting to see if more supply comes on the market alleviating the pressure. Theres a cool chart at Mortgage Sandbox.com that shows Metro Vancouver housing cumulative starts, completions, and the total under construction. https://www.mortgagesandbox.com/vancouver-real-estate-forecast
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