In analyzing previous sales cycles and real estate sales history, there is one wild card yet to be played and this could potentially shift the housing market into hyperdrive later this year.
This wildcard is a potential rebound of international buyers and immigration, which were credited for sparking high home sales in the mid-1980s and again in 2016-2018.
Once Covid is settled and borders are reopened, this could happen again in 2021.
The chief economist at Dexter Realty, Kevin Skipworth states, “We believe pent-up demand and a war chest is building and it could be unleashed on the Vancouver-area housing market later this year,”
Nothing has been predictable since Covid started but there one thing I know for certain in my 20 years in Real Estate is that buyers and sellers need an experienced and knowledgeable realtor to help them navigate through this market. My experience through these previous markets, my access to these types of reports, statistics and market predictions will only help my client make the best decisions when it comes to purchasing or selling your home.
If you have questions about the real estate market and how these statistics and predictions could affect your situation, I invite you to call me: