COVID-19 Phase 2: Looking Forward in the Real Estate Market

COVID-19 Phase 2: Looking Forward in the Real Estate Market

With the BC Government loosening some of the restrictions this week, we are experiencing a shift in the real estate market. Buyers are becoming more active and I expect to see more listings come on the market over the next few weeks. 

It has been a slow couple of months but here's to hoping that our economy will begin the process of going back to normal. While real estate is an essential service, it may be a while until there are open houses so virtual showings and showings by appointment are encouraged for the time being. 

There are currently 44,000 new homes being built across Greater Vancouver with 37,000 of those being condominimums. In the past, nearly half of those units were being sold to investors who either rented them out or left them vacant. 

Economists and banks all have various predictions on the real estate market and the housing prices over the next few years. For those who have been able to get through COVID-19 and are thinking of buying your first home or moving into a bigger home, now is your opportunity. 

If you are thinking of buying or selling, now is a great time to start dipping your toes in! Give me a call, text or email to discuss your real estate plans and what you should do moving forward. 

Source: Vancouver Sun


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