With housing sales remaining elevated at the start of 2022 and new listings entering the market at a reported "more typical level" What are you to expect in the upcoming months?
In a nutshell, Keith Stewart, Economist, has assessed the Metro Vancouver Housing Market Activity in the first quarter and this is the overview of the results:
• Listings remain stubbornly scarce in the early part of 2022, inventory will not build until sales fall
• Mortgage rates are expected to rise and the stress-test rate is expected to remain at in 2022
• Sales are expected to fall from 2021 levels due to deteriorating affordability
• Extreme upward price pressure remains at the start of 2022
• Prices are expected to rise in 2022, but the majority of upward moves will happen in the first half of the year.
Copy and Paste Link Below for Full Report from REGBV
http://members.rebgv.org/news/REBGV-Q1-2022-Housing-Overview.pdf?_cldee=anVuZUBqdW5ld2hhcnJpZS5jb20%3d&recipientid=contact-087f23ee0f77e811a95b000d3af49211-5e2e68c56f134844852d59986ce0fd37&esid=fdf947e7-9599-ec11-b3fe-000d3a09df1c
Scan QR Code for Full Report
