Segment 1-Market Update Jan 9,2023
Monday, Jan 09, 2023
JAn 9 2023
Current inventory 8713 units with 212 selling, not much of a change up 3-4% of inventory since last week still giving are clients some of the best opportunities to sell with the lowest inventory since March 2022.
Were advising all our clients that have intentions to sell this year to sell now and don’t wait for a spring market. There wont be a spring market this year ! the longer you wait to sell the more money your going to lose !
Government knee jerk reaction to shrinking covid stimulus earlier and interest rate increases earlier in 2021, are to blame for our current situation ! And high ranked x Liberal officials starting to speak out on the issue.
Bc implemented a 3 day cooling off period on all purchases, what this will do is automatically give every buyer a 3 day conditional period to either go ahead with the transaction or back out, even if theres no condition on finance or inspection. Great idea just 2 years late, this will a great tool in 3 to 5 years.