It seems as though the wind blew the fall weather in over night. The people I meet on the street walking there dogs in the morning are all wearing their fall jackets. I notice the leaves on the trees have begun turning colours and dropping to the sidewalks and lawns. This is usually the time of year when buyers begin their search in earnest to try and find that perfect property before the bite of winter truly hits the Canadian air.
This fall season is an election year. For some reason activity seems to slump in the market during an election year. It might be the distraction of all of the election news, or it might be the presence of the lawn signs for the candidates. But for whatever reason, things tend to slow a bit as we approach a major election. Up to this point, the year has been very active. Continued low interest rates and high demand on scarce inventory have created a Seller's market. Along with these types of market conditions comes an increase in housing prices, particulary in detached homes in quiet neighbourhoods. The Fraser Valley market has experienced some significant gains in key neighbourhoods. We have some clients who have realized upwards of 100K increase in their housing investment in the course of this past year. Real Estate has continued to prove itself as a major tool in wealth gain in British Columbia. For those who are who are interested, we supply a full market report on a monthly basis upon request. If you would like to follow what the market is doing, just click here and we will add you to our client list to receive our Fraser Valley market report.
This election seems to have the wind of change blowing through it, reflecting the weather conditions, it seems. Whatever the outcome of the voting, Laura and I are confident that our local housing market will continue as a strong investment. We all need the shelter of a roof over our heads, and the warm of four walls around us as we head into the inevitable change into the Canadian winter.
Keep warm...and don't forget to Vote on October 19th.