Ravi Punia - REALTOR®

Fraser Valley Specialist

FRASER VALLEY REAL ESTATE BLOG POSTS

The Crash that Never Came

The Financial Post had an interesting story with a headline that reads:


Waiting for a real estate crash?  The market is still surging.


To the surprise of many, the residential real estate market didn't experience any sustained downturn through six months of the COVID-19 pandemic so far.  In fact, it seemed that pent up buying (and selling) was suddenly unleashed in July as the economy began a gradual reopening.  People who were in essence in "lockdown" at home had time to reflect on what type of home they really wanted and sellers had time to prepare their home for listing.


The Fraser Valley market, in which I specialize, has been a great beneficiary of the trends I outlined in earlier blog posts.  Namely, buyers get way more bang for their buck in the Fraser Valley real estate markets like Surrey, Langley, Abbotsford, Mission etc.  In a world where remote working (work from home) is becoming normalized and the desire for more physical space growing, the housing market and types in the Fraser Valley offer compelling value and lifestyle.  


I expect more and more people will want to leave the tight living of dense urban areas (i.e. Vancouver and Burnaby) and seek more room and comfort in more spacious homes and properties out in the Valley.  It makes a great deal of sense in a world where physical distancing is emphasized.



*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.