Happy Winter! Here’s our winter 2023 market message; in this short video, I’m sharing what to expect in the New Westminster and Metro Vancouver housing market. This may not come as a surprise to you that winter typically brings the slowest housing market of the year. With the cold weather, people are busy with the holiday season, and let’s face it, metro Vancouver shuts down with even the lightest dusting of snow.
If you’re looking to take advantage of a lower market, less competition and a more leisurely experience, winter is the best time for all this. The only drawback to the winter market is fewer listings come up because the market is generally slower; you have less selection when buying and fewer active buyers when selling.
The one thing that’s different about this winter market compared to other years is mortgage interest rates are still at a 20-year high, so while we’re used to seeing a robust spring housing market, there is no guarantee this spring will hold a typical uptick. If rates remain high or go up again, we could be in a very different spot come spring.
If your heart is set on moving in the spring to align with the school year or just the busier market, the timeline looks like this: the wintery low season usually carries over until about mid-February. So that makes right now through January the perfect time to start the process.
Send me a message or connect on Instagram and Facebook. I hope you have enjoyed this winter 2023 market message, and if I don’t talk to you before the new year, I hope you have the most magical holiday season.