Will the rate drop Stimulate the market?
|It is hard to believe that the Bank of Canada has dropped rates...we are in uncharted waters in terms of the level of activity for this time of year. June was the biggest June on record and the second biggest month of all time. The lack of inventory continues to be a major problem which is driving prices skyward. A lot of people are asking if the drop in rates will further stimulate our super-heated market and I am not sure that it can. It may push a few buyers that have been sitting on the fence but they still need available product to be able to purchase. Interesting times...fun for sellers...stressful for buyers.
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.