Market conditions have been extremely favorable to buyers this year. With consumer confidence high, this has been reflected in the real estate market. With consumers feeling better, they are more willing to take risks, says Bryan Yu, an economist with the BC Real Estate Association.

“Low mortgage rates and pre-approvals are encouraging local and first-time home buyers. However, since these rates may increase in a few months, buyers are taking advantage of current rates,” he says.

With the potential for rates to increase, we have been seeing a flurry of activity here in the Vancouver downtown market. New listings, many buyer leads, and too many phone calls to catch up. 

With that, have a good day, and feel free to give me a call or contact me via the site here if you have any questions for your downtown real estate needs.

Best wishes, David