November 24, 2021 |
The inflation rate is already at an 18-year high. To control this, the central bank is expected to raise rates eight times over the next two years. In other words, mortgage rates could roughly double by 2023.
November 20, 2021 |
Local state of emergency that has been declared in Abbotsford may have untold effects in the region. Hard to predict where we go from here but with a large portion of farmland underwater, it doesn't seem very likely we'll get a boom in that area.
November 10, 2021 |
In a seller’s market, home prices are higher, and inventory is lower. This means you are more likely competing with multiple bidders. Those situations are beginning to decrease, but they haven’t gone away.
November 3, 2021 |
"Townhomes and single‐family homes are selling on average within two to four weeks in our region, with buyers keenly watching the market for new listings."
October 27, 2021 |
So here's another week that has gone by and we're looking at basically the same increase in inventory from last week, but with increased sales. Any new and existing listings are getting swallowed up by demand.