Latest figurs from REBGV for Richmond and Vancouver show home prices have increased a modest 2%, compared to this time last year. While overall sales figures show a decrease (Y/Y) there is certainly an air of optimism that we may indeed be over the worst.
BCREA in it's latest report shows that while BC home prices have indeed had a soft landing compared to the heavy heights of 2011, we have not experienced a housing 'Bubble' that some leading banks and economists had predicted.
With mortgage rates still at attractive levels, indeed there may also be a strong case for locking in to those 5 years terms which currently stand at 2.9 - 3.7%, hey.. why not, peace of mind. Now might very well be a good time for both FTB (first time buyers) and those looking to trade Up/Down to think about making a move. There is a good selection of both NEW and RESALE homes on the market with lots of time to view many before making that all important decision.
Trevor Barnett, YOUR local REALTOR® has an excellent track record of success and is now in his 20th. year of service excellence. If you or someone that you know is looking to invest in real estate, now would be a good time to touch base with Trevor. NO OBLIGATION, just great local knowledge and a passion for what he does.
Questions? I'd love to hear from you, drop me a line, email/phone/facebook or whatever your medium is.
Thanks for dropping by!