How's the Market? January 2020 in Review

By: Vancouver Real Estate Today

How's the Market? January 2020 in Review

Tags: Learn

Without a doubt, spring has sprung in real estate markets across the Lower Mainland. Open houses are seeing, at times, 100 people though the door in the first hour. If you want to sell anything resembling affordability, what are you waiting for? 

Home buyers are back thanks to increased liquidity in global central banks, Coronavirus scares and weakening economic growth. Bond yields have tumbled in response causing the 5 year fixed mortgage rates to come down to about 2.79%. Residential mortgage credit growth is now growing faster than before the introduction of the mortgage stress test.

Watch the video for more insights including insurance woes and presale market updates. 

Never underestimate the power of 80 basis points.
 

Click the link below to view the monthly market statistics for your area in an easy to understand infographic. Listings, sales and prices are summarized for condos, townhomes and single family homes in cities across BC.

Abbotsford
Bowen Island
Burnaby East
Burnaby North
Burnaby South
Cloverdale
Coquitlam
Kelowna
Ladner
Langley
Maple Ridge
Mission
Nanaimo
New Westminster
North Delta
North Surrey
North Vancouver
Parksville
Pitt Meadows
Port Coquitlam
Port Moody
Richmond
South Surrey/
White Rock
Squamish
Sunshine Coast
Surrey - Central
Tsawwassen
Vancouver - East
Vancouver - West
Victoria
Vernon
West Vancouver
Whistler

 

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