My comments:
According to the June statistics report, the market continues to favor buyers, with inventory levels reaching their highest point since 2019. However, this trend isn’t consistent across all areas.
Competitive Markets:
- Burnaby: Particularly strong due to the new small-scale multiplex rule change (click here for details).
- Vancouver East: Detached homes remain competitive, with over half of properties selling within one to two weeks. Condos in this area also typically sell within a few weeks.
Slower Markets:
- Surrey: Both detached homes and condos are moving slowly. The recent rate cut was minimal, and many buyers are waiting to see if another cut is forthcoming.
Key Insight: Location remains the most significant factor influencing property potential. As always, choosing the right area can make a substantial difference in your investment.
Stay tuned for more updates and insights in our next newsletter.
