Uncertainty is a major reason: buyers are unsure whether to buy now or hope for lower prices in the future. Sellers are suffering the same uncertainty – accept a lower price now, or delay selling?
Less expensive, outlying suburbs have enjoyed far greater price appreciation than the more expensive neighbourhoods closer to the centre of Vancouver.
If you’re looking to purchase your first home, today’s low mortgage rates can add a valuable discount.
Economists expected that the lookdowns due to the pandemic would slow the Real Estate market. However, the sales & prices rose rapidly. Would the trend continue through 2021?
Due to spending more time at home during the pandemic, homeowners reevaluate what they want their home to be, shifting to single family homes.