What happened with the market in 2020? Spring sales fell and then froze. Mortgage restrictions and new taxes didn’t help. It was an uncertain global economy and everyone was spooked. Then, contrary to the dire predictions, sales began to climb in the August, building to record highs in the fall. By year’s end, in the midst of a global pandemic with unemployment rate at a 30-year high and borders closed, sales are up — way up. The impact of the COVID-19 recession was not equal. Most job losses were in low wage service sectors that hurt people least likely to be able to afford a house. Higher income employees kept right on working through the pandemic. In this pandemic our homes have became more important homes as workplace, school, entertainment centre, and refuge. Commuting has become less important.  Read More
2021 Forecast, All bets are off!  COVID-19 makes forecasting impossible. Relative to other places in the world our area is clean and safe with a good economy and stable government. That’s not changing. There are some indications that investors are returning. The housing market, however does not exist in a vacuum and the long range prospects for the world’s economy are uncertain.

New Assessments

Values for detached homes increased from 4 to 8 per cent. In White Rock, apartments decreased by 2 per cent. Remember, property tax values are ball park averages and are not a true market value.
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Bill Noy  billnoy@gmail.com 778 846-6967

 
 
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.