Mark Lin Real Estate

June 2023 stats.

Most cities ended the month with decreased listing price and increased sales number. The continue rising interest rate is making it difficult for buyers to bid for higher priced houses. Sellers lower the price to accommodate to the situation and to secure a deal. Population growth maintains housing demand. Bank of Canada went for another 0.25% rate raise and will likely to get another raise before the rate settles.

UBC

April 2023 Stats!

Overall still a slow market but we can see more people are interesting to go out there to open houses and discover opportunities to jump on. I am expecting the rate raise to stop and pivot soon which will then create more buyers to make the market more interesting.

February 2023 stats! As interest rate continues to stay high, the increasing numbers of defaults on mortgages pushed down the prices even further. We must pay close attention to what happened to the banks in the US and if it will reflect in the Canadian market. I believe that before the interest rate lowers we will see this down trend continue.