Monthly sales and new listings in the Fraser Valley continue blistering pace; surge in inventory starting to calm prices
Home sellers have become increasingly active in Metro Vancouver’s housing market this spring in response to heightened demand and rising home values that have materialized during the pandemic.
Despite a modest slowing in market activity in April compared to March, selling prices for all major home types remained very high. Low borrowing costs during COVID-19 clearly had an impact on the demand for and price of ownership housing. While the pace of price growth could moderate in the coming months, home prices will likely continue on the upward trend. Renewed population growth over the next year coupled with a persistent lack of new inventory will underpin home price appreciation.
One of the primary goals of homeownership should be the building of equity in your home. Equity is simply the difference between the current value of a property and the balance of all mortgage obligations.
Many people think of adding square footage to create more space. But that doesn't have to be the case. You can make your home appear bigger without going through the hassle of renovating and remodeling. With just a few home modifications, it is possible to make more from less. And remember, often what the eye needs is the illusion of spaciousness not actually more space.
Choosing the right floor for your home is an important decision. Not only does it set the tone for the whole interior of your home, but it’s also the foundation for everything else you put in a room. Your choice should fit the look of your home and the way your family lives.
Despite the economic downturn, many Canadians are still dreaming of owning a recreational property, both as a long-term investment and to enjoy with family and friends. Canadians are willing to make sacrifices to own a cottage, and more want to use their cottage, cabin or chalet year-round as a recreational property and, for some, as their primary residence.
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