Since 2001 Vancouver Real Estate Prices have been on an upward trend. All one had to do was buy in January and sell in December to make a respectable profit.
When I got licensed in 2008. I was told by a veteran agent that the real estate market is a 25 cycle market. In other words, if prices went up for 15 years, they would go down for the next 10 years. Here we are in 2022 (some 21 years into the current cycle) leaving 4 years to complete.
Now if you’re buying an investment property you should plan to hold on for the next 4 years. If you bought recently in hopes to sell within a year… well, you may have a surprise.
At the time of this writing, Canada just announced that they will be bringing in more immigration than had previously accounted for. Many of these new immigrants will have deep pockets and this could affect the home prices in a positive direction.
To answer the question I get asked often… “when is the best time to buy”?
My answer: The best time to buy is when you have the ability to.
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