IRON GROUP - Real Estate Professionals

A few days late, but we are sure you have been enjoying the Halloween candy the kiddos collected! We wanted to share a quick recap of all the fun we had on Halloween. Hope everyone had a spooktacular Halloween..until next year.

With Halloween falling on the same day as Diwali, we know many waited until today to celebrate. We would like to wish everyone a very Happy Diwali, full of light and love. We hope everyone has a wonderful time celebrating with your friends and family.

In the News, this week on What is Happening in the Real Estate News in and around the Lower Mainland is from CTV News, written by Kevin Karach:

New data from Greater Vancouver and the Fraser Valley shows a surge in supply and drop in demand in the region's historically hot real estate market.

“It’s like going to a buffet with no one else in line,” said Jeff Chada, Chair of the Fraser Valley Real Estate Board.

New data from Greater Vancouver and the Fraser Valley shows a surge in supply and drop in demand in the region's historically hot real estate market.

“It’s like going to a buffet with no one else in line,” said Jeff Chada, Chair of the Fraser Valley Real Estate Board.

Chada says housing listings are way up but demand has stalled.

“Inventory has increased around 5 per cent since last month, But the very big number is, it’s about 39 per cent from this time last year,” Chada told CTV News, describing the market in the region that includes Surrey, Langley, Abbotsford and White Rock.

According to a new report from Greater Vancouver Realtors, listings have also increased in that region by more than 30 per cent since September 2023, with sales trending 25 per cent below the 10-year average.

Follow the link to read more: https://bc.ctvnews.ca/like-going-to-a-buffet-with-no-one-else-in-line-housing-sales-stall-in-metro-vancouver-fraser-valley-1.7060288

Do you have an article that you feel we should feature? Forward to us and we will share it on our next "In the News".

Just Announced: The Bank of Canada has announced that they have DECREASED policy Interest Rates by 0.50% (50 basis points) to 3.75%.

This is the largest rate cut since an emergency 50 basis point cut in March 2020, at the onset of the Covid-19 pandemic.

How does this change impact you?

If you have a Fixed Mortgage, this will not change your payments.

However, if you have a Variable Mortgage, this change will decrease your payments. Speak to your bank to see how this change affects you.

If you have a Pre-Approved Mortgage, speak to your Mortgage Broker on how this impacts you. If you are looking to speak to a mortgage broker, reach out to us, and we will help connect you.

Did you see our October Newsletter?

The October Newsletter went out this morning and we shared a varitey of items. Including a little bit about our Water Bottle Adventure Series!

Have a scroll through the video and check your email to see what the October newsletter includes!

Is there something you would like to see included in our newsletter? Let us know - DM us.

Didn't receive the Newsletter? No worries...send us a DM with your email address & will include you in our list. Don't miss all the new and exciting Iron Group and local Real Estate News.