Ravi Punia - REALTOR®

Fraser Valley Specialist


Buyers Market Coming?

Limited supply of listings of homes for sale have kept house prices relatively stable during the Covid-19 pandemic.  There are willing and able buyers out there buying houses, townhomes and apartments, but with relatively little inventory of homes on the market to choose from.  This is currently giving home sellers the upper hand.

However, one prominent bank economist believes that may begin to change, as early as this fall.

“We believe the scale will tip in favour of buyers in many markets across Canada and (benchmark) prices will fall modestly, possibly as early as this summer. This, along with historically low interest rates, will reduce home ownership costs,” wrote Robert Hogue, an economist with RBC Economics.


Posthaste: Housing affordability is a worry but one analyst believes the scales may tip in favour of buyers as early as this summer

If you have pretty secure income and aren't in a rush to buy, more favourable buying conditions may emerge in the coming months.  Part of that may include more listings coming to the market from distressed sellers, once mortgage deferall programs begin to wind down possibly.

If you are in the market for a home in the Fraser Valley, I can be of help by setting you up with customized searches, that are specific to parameters that fit your needs.

*This blog communication is not intended to cause or induce breach of an existing agency agreement.  Views are my own and do not reflect those of any organizations that I may be associated with.

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.