In previous years, it has been observed that real estate sales tend to slow down while new listings increase towards the end of the year. I anticipate that this trend will continue this year as well, particularly if potential buyers opt to adopt a more cautious approach due to the uncertain economic conditions, persistently high inflation above the Bank of Canada’s 2% target, and the expectation of prolonged higher interest rates.
These factors may cause some buyers to remain on the sidelines and observe market developments. However, these reasons holding back buyers could potentially motivate certain sellers to entertain offers and be open to price negotiations that they might not have considered otherwise.
Buyers who are willing to take a contrarian stance and go against prevailing market sentiment might be rewarded with excellent real estate opportunities at favorable prices. From my perspective, the end of this year and the beginning of next year could present a promising window to seize real estate properties in the Metro Vancouver area.