With the March numbers firmly in place we can share that Vancouver home prices increased in value by over $130,000 in the first 3 months of 2022. This comes on the heels of a record setting 20% increase in prices during 2021. So when will this torrid pace of appreciating values end? Soon. Very soon. 2 of the 3 price metrics in March were lower - and this is just the beginning. With most banks Fixed Rate Mortgages around 4%, we're seeing an immediate impact on the marketplace. And how could you not? With rates up 2.5% this year the average home buyer has seen their buying power decrease by 20% A $2,400 monthly payment a year ago got you a $700,000 mortgage. Today, $500,000. Big big difference. So what happens next? We dive into the data and give you our feedback, analysis and predictions on what is going to happen over the upcoming months.
www.thevancouverlife.com
_________________________________
Contact Us To Book Your Private Consultation:
📆 https://calendly.com/thevancouverlife
Dan Wurtele, PREC, REIA
604.809.0834
Ryan Dash PREC
778.898.0089
ryan@thevancouverlife.com
