Local Vancouver home owners consider latest housing market predictions – Buy, sell, or stay?

VANCOUVER (NEWS1130) – The latest from the BC Real Estate Association suggests the push and pull between local buyers and sellers has evened out. With low interest rates on the immediate horizon, those in the market are considering their options.

You can’t take advantage of historically low interest rates if you can’t scrape together 10 per cent of a $300,000 condo in Vancouver or carry the mortgage tied to it.

“Of course I’d like to own,” says one man. “But it’s [still] a little out of reach of reach for a lot of people, I think, and it always will be in Vancouver.”

Meanwhile, this homeowner tells us from where he sits, staying put feels just fine:

“I’m pretty stable right now as far as mortgage rates are concerned, so I’m not thinking of selling… mortgage rate up or down doesn’t bother me in the short run, anyways, because I’m fixed into a five-year-mortgage. So, I’m not too concerned right now.”

When it comes to prediction on price, the consensus among local realtors seems to be that Metro Vancouver’s international appeal and interest from foreign buyers won’t lead to big discounts anytime soon.

For more information about purchasing Vancouver Real Estate or Investment Real Estate in Vancouver, call the Adam Chahl Group today.