I found The Real Estate Board of Greater Vancouver’s January 4, 2023 Market Report of special interest this month. They have a full economic analysis report on 2022’s real estate market, with charts for those of you that are more visual, like me. It’s a good read! Check it out here: https://www.rebgv.org/market-watch/monthly-market-report/december-2022.html
What really intrigued me the most about this article was, Andrew Lis’s (REBGV’s director, economics and data analytics) comment
“While the consensus among many economists and forecasters suggests the Bank of Canada may be near the end of this tightening cycle, rates may remain elevated for longer than previously expected since the latest inflation figures aren’t showing signs of abating quickly. We’ll watch the 2023 spring market closely to see if buyers and sellers have adjusted to the higher borrowing-costs and are participating more actively in the market than we have seen over the last 12 months.”
This year’s big question is:
What will happen with inflation this Spring 2023?
How do you think this will affect the real estate market?
How do you think this will affect you?
I’d love to hear your answers, opinions and predictions.