I filmed this just before the smoke arrived. This smoke is unreal, and I am hoping to moves quickly over us.
We are seeing better sales volumes increase month over month, It has been an unusual situation given the pandemic, but the board is cautiously optimistic with the numbers we are seeing.
South Surrey/White Rock area has shown that it is in a high-end Balanced Market for Single Family Homes. The Townhouses are in Sellers Market
Each neighbourhood has a different market to the next.
CMHC did release a doomsday report housing forecast in May, which saw home pricing drop by 18% with no real recovery until 2022. To date, this has not happened. As of July 30, there was approximately $170 billon worth of outstanding mortgage deferrals in place, with the majority expected to mature between September and October. Recently, there has been a sharp decline in the number of mortgage payments still be deferred. Another thing to note is that personal credit card debt has decreased. We are living in interesting times.
Call me to discuss, or if you want to chat about my seller's guide or buyers guide.
Amanda