It is a great honor for us to receive the Medallion Club award for 2022 which is given out by the Real Estate Board of Greater Vancouver. The Medallion Club qualifications are set annually, with approximately 10% of Realtors qualifying, based on listing and selling closed transactions.
Clients and friends (you) helped us achieve this prestigious award, and we would like to thank all of you who have supported, trusted, and referred us.
We would like to express our heartfelt thanks.
We are working hard to reach this same goal next year, we hope to hear from you to become part of our goal!
“STRONG RECOVERY” EXPECTED FOR BC HOUSING MARKET IN 2024
Based on current trajectories and trends, the housing market in British Columbia is expected to see a “strong rebound” in 2024, according to the BC Real Estate Association’s (BCREA) forecast update released on February 6th.
But before that rebound happens, the pronounced lull that began in 2022 will continue well into 2023, with the total number of home sales across the province expected to fall by 7.1% to 75,150 units this year. Such home sale volume levels would be higher than what was experienced in 2018 and 2019.
“We anticipate that home sales will remain slow in 2023 as the market continues to be constrained by high mortgage rates and absorbs the impact of a slowing economy,” reads the forecast.
“However, the housing market historically tends to lead the business cycle and the onset of recession generally coincides with the beginning of a recovery in the housing market and a substantial rise in activity the following year as the economy heals and the impact of falling mortgage rates unlocks demand.”
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