Home Prices Increase In February

Vancouver home prices increased in February for 1st time in 9 months. Does this mean we’ve hit the bottom and headed back up? Slow down - not yet! One month does not make a trend but it does help further reinforce that our stagnant levels of inventory are causing all kinds of pain for Buyers - this plus the combination of higher rates is setting us up for could be an interesting spring market. 

We are already hearing stories of and taking part in multiple offer situations at different price points and asset classes all over the lower mainland. In this episode we get into why that’s happening and we review the stats for the month of February. 

Furthermore we get into the new BC Budget and the new municipal property tax hike of 10.7% in Vancouver and the impacts that will have to the housing sector going forward. We also suss out our own assumptions about whether the market has hit bottom, and where you can expect prices to go in the coming months. This is a very important episode especially for those who have been watching the market on the sidelines waiting for your opportunity.

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Ryan Dash PREC

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