Hello all, we are here again to discuss the latest of whats been going on in the real estate market here in Vancouver, and why we feel that the Vancouver sales market too hot.
Transaction volume has taken off on a blistering pace and we have seen a continuation of whats been going on for the better part of 6-7 weeks now. While we knew the market was going to react well to the rise in consumer confidence and the continued record low interest rates, the pace has been eye-watering. We have been feeling for the first time since the summer of 2016, a resurgence in a buyer demand.
Pandemics are not what someone might think would be a catalyst for such a move in real estate transactions, but here we are. We know something for sure, which is that this demand will slow as rates slowly start climbing and as buyers who weren’t able to transact in 2020 filter through. There is also growing buying sentiment we have seen in the last week or so of feeling frustrated with the current climate. Heavy transactional volume means plenty of buyers are unable or unsuccessful in purchasing a home, sometimes several times over. This makes for a sour taste in potential buyers mouths and can dissuade them from ‘jumping in’. Small crowds greet many potential buyers as they try to view listed property for sale. Having more than 20-30 groups through a listing over a weekend is common place.
Something lastly to note, albeit anecdotally: Many renters I am personally dealing with are coming from the sales market, IE have sold recently and now are planning on renting. They feel the market to be ‘too hot’ or not able to provide adequate inventory to service their independent search requirements. While just a small snap shot of the general market, this provides us with a glimpse to a market that may need a bucket of cold water soon…
Stay posted, friends!
If you have any questions about the current market conditions or comments about the state of things, feel free to leave a comment down below! Stay posted for more real estate news which can always be found in our blog page at www.filerhttps://www.filerwelch.com/blog/
As always, give us a shout if you have any questions and thanks for reading Vancouver Sales Market Too Hot.
Also, take a look also on our improved MLS search page linked here FilerWelch.com / MLS Search to see real time market listings!
Lastly, let us know if there might be some interest in bringing a vlog/podcast to the group channel! We are considering a host of ways to bring new content for our followers. We are keen to encourage conversations from any of our posts or listings that help forward the discussion. Knowing that our followers are looking for content helps us adjust our focus.
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Vancouver Sales Market Too Hot.
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