Real Estate Daily Report

Vancouver Housing Market Embraces Change, Prepares for Fall Rebound

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While uncertainty remains high, Vancouver continues to be a relatively stable and desirable home market. realestate realestatenews BC

2:00 PM Aug 3, 2022

O’Toole has been in the real estate industry for nearly two decades and has experienced his fair share of busy markets. But the last two and a half years were unlike anything he’d ever seen.This frantic sellers’ market was bound to slow down. And throughout the second quarter of 2022, we’ve started to experience this inevitable dip.

As O’Toole aptly summarizes, “People hate uncertainty, and unfortunately, there’s a bit of uncertainty in the market right now.” “It has to be a special house to get attention right now,” O’Toole explains. “Buyers that are looking for luxury are now taking their time to find the right property that really checks all their boxes. There’s just not as much urgency anymore.”

 

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