During the last two months of the year, we typically see more homes go under contract than new resale listings, which are at the low point for the year. After January 1, unsold inventory will be at the lowest point of the year – down about 45 percent from the peak. Strong job growth and low interest rates in the threes have already built up pressure in the more affordable and mid-price ranges, where 75 percent of sales occur. Strong price appreciation is ahead, and we anticipate frenzy sales activity intensity after the first of the year, up through the mid-price ranges.
WHAT’S YOUR HOME WORTH?
SCALE: MONTHS SUPPLY
Vancouver Housing Update - Resale Only
Pressure is Already on for Spring Housing Market
Key Market Indicators – October Recap
Unbelievable Interest Rates
Source: Mortgage News Daily
John L. Scott recently launched a home price valuation platform powered by Buyside that can help you understand what your home could be worth in today’s market. Simply plug in your address and receive up to three different computer-generated home price estimates. However, it takes more than an algorithm to determine your home’s worth. Contact your broker associate to learn more about this tool, along with today’s current market price and seller marketing strategies.
Average % of New Listings (Pending) in the First 30 Days