Area Real Estate News & Market Trends
Summer of 2024 Market Trends and what it's like on the ground as an area Realtor.
Even though interest rates are trending downward, buyers are still hesitant. That, along with the extension on the Foreign Buyer's Ban (see link below) and recent announcements on Landlord / Tenant changes ( see 2nd link below) have lead to a very slow summer market, here on Vancouver Island. The positive is that there is more selection than previous years, and some good deals to be had. Typically the market picks up again, after Labour Day, as Buyers ponder their plans over the summer holidays and many want to make a move before winter hits.
https://www.canada.ca/en/department-finance/news/2024/02/government-announces-two-year-extension-to-ban-on-foreign-ownership-of-canadian-housing.html
https://www.bcrea.bc.ca/legally-speaking/landlords-take-notice-recent-amendments-to-bc-tenancy-legislation-574/
If you'd like more information, or would like to chat about your real estate goals, feel free to contact Bob Dawe today!
778-919-0455.
Vancouver Island Real Estate Blog
Summer of 2024 Market Trends and what it's like on the ground as an area Realtor.
Even though interest rates are trending downward, buyers are still hesitant. That, along with the extension on the Foreign Buyer's Ban (see link below) and recent announcements on Landlord / Tenant changes ( see 2nd link below) have lead to a very slow summer market, here on Vancouver Island. The positive is that there is more selection than previous years, and some good deals to be had. Typically the market picks up again, after Labour Day, as Buyers ponder their plans over the summer holidays and many want to make a move before winter hits.
https://www.canada.ca/en/department-finance/news/2024/02/government-announces-two-year-extension-to-ban-on-foreign-ownership-of-canadian-housing.html
https://www.bcrea.bc.ca/legally-speaking/landlords-take-notice-recent-amendments-to-bc-tenancy-legislation-574/
If you'd like more information, or would like to chat about your real estate goals, feel free to contact Bob Dawe today!
778-919-0455.
July 31, 2017
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