We have experienced a relatively active Spring Market in April with a steady, yet modest, increase in home prices. However, as we have seen in the last couple of years, there is an increase in inventory heading into May.
We subscribe to the attached Market SnapStats each month as our clients have told us that they want to hear from us directly about what is happening in the market. We are in the market each and every day and from our perspective, it has been extremely busy in April but not as "crazy" as March. But if you look at some of the sub-areas in North Vancouver you will see a tremendous spike in April! We have chosen to highlight that area this month.
It is a good idea to check out the 13-month trend in your sub-area. It definitely varies in every single area, but overall, we have experienced a Seller's Market in April.
Cameron Muir, BCREA Chief Economist said "Low mortgage interest rates are a key driver in the market this spring. It's unlikely that mortgage...