Well as expected listings are expiring and the number of active listings is dwindling quickly… Similar to 2010 when close to 2000 listings disappeared from the market and left a very low inventory of quality homes. There seems to be a lot of uncertainty about what the market is going to do and this has been making buyers hesitate. Last spring this coupled with the low inventory situation greatly contributed to the sellers market of earlier this year where quality houses were routinely getting multiple offers and quickly selling above list price. It would seem to me that this scenario is more and more likely to repeat again this year, as the mortgage rates are as low as they have ever been and Vancouver is still the most desirable place to live in the world! If you are contemplating buying or selling a home in the near future and would like to prepare a plan of attack, please call me and book a FREE ONE HOUR CONSULTATION NOW!
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