OCTOBER 2019 IN REVIEW

2019-11-08 | 11:19:58

THE SARETSKY REPORT - OCTOBER 2019 IN REVIEW

This is my go to report this month

- Nearly identical to September, the month of October witnessed home sales bounce 46% year-over-year across Greater Vancouver. What is driving the recent uptick in purchasing activity?

- Home prices still recorded declines across all property segments on an annual basis, however those declines are easing and should fade in early 2020 assuming all things being equal. 

- Will the Trudeau Government follow through with the boost in the first time home buyers incentive program? If so, we believe this will actually benefit sellers, not buyers. 

- There is just 3.4 months of inventory in the Greater Vancouver condo market as sales increase and new listings fall. We suspect this number could fall further before increasing in 2020 as new apartment completions ramp higher.

- Despite the uptick in activity, it appears investors and home flippers remain firmly on the sidelines. House flipping activity remains near record lows. 

 

On top of this, rates remaing low so gear up for a healthy spring market in 2020

 

RATES

Bank rates they are as low as 2.79%

Business for Self income mortgages rates are as low as 4.49%

Private lending as los as 6.5%

 

Call us for your deals Today

 

Joel Sida Mortgage Team.

778-999-6145

 

 

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