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Market Shift | DSR Home Insights Blog

Thursday, September 21, 2023   /   by Derek Turci

Seizing the Moment: A Realtor's Insight on the Current Real Estate Landscape and Hidden Opportunities for Buyers

Opportunity Might Be Knocking at Your Future Front Door
This August, I celebrated my 9th year as a Realtor. Over those years, I've experienced pretty much every type of marketplace imaginable from the painfully slow one at the beginning of 2019 to the insanity inducing markets such as 2016 & more recently after the COVID lock-downs. During my time, I've only seen fleeting glances of balanced markets where both buyers and sellers have an even playing field. However, these are as rare and mysterious as Sasquatch sightings and are often nothing more than nostalgic stories I've been told by "seasoned" Realtors remembering the good old days. Honestly, who knows if they even existed at all!

It's fair to say that the majority of my career has been spent preparing my home buyers or sellers for multiple offers. Although I do love the thrill of a good multiple offer when I'm on the sell side, my excitement turns to sadness when my buyers look to me with incredulous eyes as I'm force! ...

  fraser valley, fraser valley real estate, greater vancouver, housing market, real estate, real estate trends, vancouver housing, market opportunity, buyer's market, market shift, housing trends, buyer tips

Tuesday, September 5, 2023   /   by Derek Turci

August 2023 Real Estate Insights: Unraveling the Impact of Rate Hikes on Sales and Prices in Greater Vancouver

Your Market Update for August 2023
Sales activity slid for three consecutive months over the summer period following the typical seasonal cycle of the GVRD. In August, sales totalled 2,296 for Greater Vancouver which is 22% more sales when compared to the same time last year and 14% below the 10-year average.

With 2 recent rate hikes coinciding with the aforementioned seasonal cycle, it's hard to say with full certainty how much of the slowdown can be blamed on the Bank of Canada's ruthless campaign to curb inflation and how much is simply because of the typical lull we experience over the summer months.

As Andrew Lis, REBGV’s director of economics and data analytics said. “It’s been an interesting spring and summer market, to say the least. Borrowing costs are fluctuating around the highest levels we’ve seen in over ten years, yet Metro Vancouver’s housing market bucked many pundits’ predictions of a major slowdown, instead postin. ...

  fraser valley, fraser valley real estate, greater vancouver, housing market, real estate, real estate trends, vancouver housing, housing market update, housing statistics, market update, buyer's market, housing trends, market opportunity, market shift

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Royal LePage Elite West
2099 Lougheed Hwy #A123
Port Coquitlam, BC V3B1A8


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