Where do we go from here? A prediction from a 40 year veteran realtor on what might happen next.

It looks like the  price momentum is stair stepping up in the usual way. Here is a chart going back 43 years. Wow, even longer than when I entered the business in 1981!  It's interesting to see the lift-off point in January 2003. You see patterns within the long up and to the right chart. The ave price setbacks are always very short and rarely more than two years followed by 3 to 5 years of over 10% annual increases in average sales price.  In strictly my own opinion, I show on the chart where the average sale price is headed to for later this year December 2021 and further to December 2022.  Rationale includes historic low interest rates under 2% for mortgages , amortizations up to 30 yrs, massive in-bound immigration of younger generations putting down roots in Canada the best all-round country on the planet. Probably will make international headlines when the average hits $2,000,000 ! keep safe and healthy!

advisor insight

Here is an update paper from BCREA with a forecast for interest rates through 2022.  It was another quiet quarter in the Canadian mortgage market. Canadian five-year fixed rates moved essentially sideways over the summer as optimism about the end of the pandemic fadedunder the weight of a fourth wa…

Howard Steiss
RENNIE ADVISOR
advisor insight

Here are the key differences to know before making any purchase decisions between pre-sale and resale properties.

Howard Steiss
RENNIE ADVISOR
advisor insight

Check out our round-up of the top 10 condos under $800,000 in Vancouver region.

Howard Steiss
RENNIE ADVISOR