UNCERTAINTY reigns!!
Yes – that word now used everywhere also applies to our local real estate industry. Buyers are playing the waiting game even as interest rates have become way more attractive. As inventories grow in anticipation of a stronger Spring market, many buyers still sit on the sidelines waiting for change to happen at home and abroad. All of the anxiety out there regarding tariffs and the state of the universe is not helped by the fact that we also have a federal election coming up shortly! So…it is a waiting game, for buyers and sellers looking for outside influences to settle.
Reviewing the statistics for the month of March, we see an encouraging increase in properties for sale locally anticipating a late Spring market. Good news for the buyers who will enjoy more choice than we have seen for a long time. Price is stilluppermost in many minds which is demonstrated by the fact that the highest sales ratio averages in March were in both attached and detached markets in Pitt. Meadows – 33% and 30% respectively.
Our crystal ball is nowhere to be found, but after many, many years working in the real estate business we know it rebounds more quickly than we anticipate. After all, housing is discussed daily and we have many new homes as well as existing traditional homes on the market. Buyers simply have to feel confident that the time is right for them to jump in.We hope you all enjoy the Easter weekend – spending time with family and friends. Good news is that the Okanagan cherry crop looks very promising for this summer! They really need the break there.
Should you need advice based on your next move, we are here, happy to meet your time line (even if distant) and help you prepare your home for the market. We are there to give you the benefit of our experience as it relates specifically to you and your home.
We remain your Generations Real Estate Partners : Michelle Hawthorne, Scott Johnson, Shane Goutsis, Ray Harris and their senior ambassador!
Sheila Francis