North Vancouver’s market is showing early signs of life: sales volumes are ticking up even as prices have drifted lower - down 1.9% over the past three months and 5.4% over six months. Activity is being held back by a logjam of would-be movers who want to trade up or down but are struggling to get their sale across the finish line. That’s keeping turnover muted despite solid buyer interest.
The catalyst to unlock that gridlock is first-time buyers. Recent rate cuts could draw more of them back into the market, setting off a domino effect as entry-level sales free existing owners to purchase their next homes. In the meantime, conditions are unusually favorable for buyers: less competition, easing mortgage rates, stronger consumer protections, and more negotiating power - all of which create a near “perfect storm” to secure a fantastic home.
If you are looking for an experienced agent that can help you navigate the current market, please check out my 'buying' page above, or my 'contact' page if you'd like to meet. Thx, Steve Hamer-Jackson