I filmed this monthly market update from my listing, 15556 Goggs Ave in White Rock; this is a beautifully maintained 3-bedroom home in a central location within walking distance to the hospital, stores, transportation and school. It has an authorized suite and a stunning south-facing landscaped backyard. Give me a call to see it! Please see my condensed take on the market and if you like any more details, please don't be shy to reach out to me. I would be happy to help!
Canadian Inflation:
The Bank highlighted that shelter-price inflation remains high and is the primary driver of overall inflation. Additionally, core inflation measures are in the range of 3% to 3.5%, with some components of the CPI still growing above 3%, although at a slower pace.
While the Canadian economy grew more than expected in the fourth quarter, its pace remained weak and below potential. Real GDP expanded by 1%, rebounding from a 0.5% contraction in the previous quarter.
Outlook:
The Bank foresees inflation hovering around 3% in the year's first half before gradually easing. However, it remains concerned about the persistence of underlying inflation and is eager to see further easing in core inflation.
A notable decrease in the number of days homes spend on the market indicates increased demand. Single-family detached homes spent 35 days on the market, down from 44 days in January, while apartments spent 29 days (down from 41 days), and townhomes took 28 days (down from 33 days).
Navigating the Market:
The real estate market is experiencing both quick sales and slower movements. There's an increase in inventory, particularly in properties priced under $1 million, which are attracting active buyers. If you're looking to strategize in this dynamic market, don't hesitate to chat about selling and buying strategies. In these fluctuating times, staying informed and seeking expert advice can help you make the best decisions. For more insights and personalized guidance, feel free to call me. Have a super day! Kind Regards,Amanda p.s. By the way, I just discovered that I was the #1 Agent in Sales for the Homelife White Rock office for 2023! Who would have thought? 🤷♀️ Definitely not me!! Thank you to all of you who supported me last year. Real Estate is about the people I serve and helping them achieve their dreams.