Market update - Nov 2019

Michelle Feng

November 20, 2019

On the economic front, recent data indicates a relatively stable economy in Canada but with minimal growth. Many experts believe the central bank needs to cut its short-term rate in December to stimulate business activity and help improve Canadian goods’ competitiveness in the global market. This measure would also cause downward pressure on mortgage rates.

Good news for home buyers in BC who want to take advantage of a real estate market that is showing clear signs of picking up activity over the last few months after a prolonged slow down. Pre-approved buyers can now not only lock into a low interest rate but potentially purchase a reasonably priced real estate thanks to the low activities over the last couple of years. The October report released by BC Real Estate Association has shown a steady recovery in BC property market with a health inventory of properties to choose from in most categories. If you are considering exploring some great buying opportunities under the present market conditions, we can quickly help you determine your qualification and budget via a simple discussion. Feel free to contact us and get the ball rolling.