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CBC News

Best strategies in a buyer's market

CBC News · 2 months ago
CBC News
CBC News
2 months ago

The Bank of Canada will announce its next interest rate decision on Wednesday. Those in the real estate market will be watching closely and many analysts are expecting a rate cut. That would ultimately mean lower mortgage rates for people looking to get into the market.

Breakdown
  • Greater Vancouver is currently in a strong buyer's market with declining prices. 27s
  • Only about 10% of homes are selling each month, and inventory is at a ten-year high. 1m 5s
  • Sellers are advised to use data-driven pricing and avoid anchoring to past high prices. 44s
  • Overpriced homes tend to sit unsold and may lose further value if the market continues to decline. 2m 35s
  • Buyers are being selective and are bypassing homes that are not competitively priced. 1m 51s