Market activity continues to be slower both as compared to a year ago and with the month of June. For the first time in a number of years we seem to be paralleling the market trends in the lower mainland. This suggests that uncertainty over government policy and future interest rate movement are impacting buyer confidence.  Certainly, buyers are taking a wait and see approach to things right now and need to be convinced that they are making the ‘right deal” so a sound well researched list price is more important than ever.

Despite the drop in sales activity prices are still holding up with a 7% increase from a year ago at this time. Some have asked if our market is crashing? To them I say there is no factual basis to suggest that our market is “crashing” it is simply moderating/consolidating to a historically normal framework.

If you would like to know how the current market trends will affect your ability to buy or sell please don’t hesitate to contact us.

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