Here is your end of the Summer Real Estate Update from Realtor & Mortgage Broker Jessi Johnson, with Bloopers!
After a record slow Spring thanks to the pandemic, June picked up nicely followed by huge sales in July & August. The last week of August was quiet, as it usually is, followed by a slow first few weeks of September. Generally speaking, September picks up immediately after Labour Day but with kids going back to school in times of unchartered territory, it understandably took longer for parents to focus on things like real estate.
CMHC’s outgoing CEO incorrectly stated (as most of us expected) that the world was ending and the average national home sales would decline by up to 20% in 2020. August sales alone were up 18.5%!
Click HERE for the Metro Vancouver detailed September sales statistics
Click HERE for the Fraser Valley detailed September sales statistics
Click HERE for the Metro Vancouver detailed September sales statistics
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,643 in September 2020, a 56.2 percent increase from the 2,333 sales recorded in September 2019, and a 19.6 percent increase from the 3,047 homes sold in August 2020. Last month’s sales were 44.8 percent above the 10-year September sales average and is the highest total on record for the month.
More importantly, now is the time to refinance. Mortgage interest rates are record low and it is a great time to pull out equity in your home, consolidate debt and/or lower your existing mortgage rate. Navigate here for my secured mortgage application
Much love,
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