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CREA Housing Market Snapshot for November 2023

Below is the most recent national housing market update snapshot from the Canadian Real Estate Association.

What is quite remarkable is the resiliency of the housing market in BC, in light of the mortgage rate increases witnessed in the past 18 months or so.

If we see a downward movement in mortgage rates, we may begin to witness a transition to more of a seller's market as early as the spring.

I will discuss my predictions for 2024 in a future blog post.

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