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1st Quarter Forecast in Fraser Valley Real Estate

Blog by Michael Cosburn | January 11th, 2018

Prices are still high for housing based on the December 2107 stats. However, overall sales and inventory are down compared to previous months but similar to December 2016. The inventory may remain low for the next few months which are typically slower months for real estate. And the new stress test for those with 20% or more down may cause buyers to wait to buy thinking that prices will drop as a result. This is faulty thinking because the stress test that applies to most buyers with less than 20% down was already in place prior to 2018 and this did nothing to bring prices down. Look at all the things government has done to lower prices and it hasn’t worked. People come here by the thousands each year from other parts of Canada and overseas and they want housing. So, you can at least count on prices remaining stable and most likely see increases again in 2018. Thinking about buying but waiting? Don’t wait. Find something you like and get in now. I always do my best to get my clients a good deal that is also a great investment. Let me know if I can help you or anyone you know that needs a Professional Real Estate Agent. Get proven results when you go with Mike.