07/07/2023
Hello All,
First and foremost, I want to thank everyone for their activity for the month of June. The special June referral incentive I had put into place was met with much fanfare and enthusiasm. Rest assured, as promised everyone that sent me their referrals during the month of June will be handsomely rewarded when these individuals complete a successful real estate transaction. Please feel free to reach out if for some reason you feel you were overlooked for this program; It truly is a pleasure to share my success with you.
Now on to the current state of the market, according to the Globe and Mail, ‘ “As for supply, buyers returning to the market this spring have been met with historically low levels of inventory as sellers have largely been slower to list, according to the Canadian Real Estate Association. Though Housing starts have thus far proved relatively resilient to the pressures of higher interest rates so fare in 2023, Desjardins’ economists expect a slowdown in the new construction is looming.”’ How this will impact Squamish is yet to be determined but current signs seem to be quite consistent with this message.
We do know for a fact is that it is a Seller’s market and when desirable inventory hits the market it doesn’t take long to find a Buyer. This is especially prevalent in the townhouse space. However, from a Buyer’s perspective it doesn’t mean that the right place at the right price can’t be found. The key is in the financing process; at the sake of sounding like a broken record… those that have their pre-approval and financing in place are at a serious advantage. The more certainty a Buyer has in this regard, the more likely a successful transaction will occur.
Stay cool and enjoy the summer. That’s why we live here! I look forward to hearing from you or crossing paths with you soon.
Best,
Vince
British Columbia has the highest proportion of renters spending more than half of their income on rent and utilities in Canada, according to new data released Monday.
