Should your buy or sell your Vancouver or Richmond home now?
There is no easy answer to the question. There are just too many conflicting reports and opinions about the real estate market for metro Vancovuer, and British Columbia in general. Lately, there were more economists and housing experts sounding the alarms that home buyers should be very cautious with their decisions.
If you are buying a home to live in, you have to feel comfortable that you can managed your mortgage payment assuming the interest rate is at the historical level around 5.5% to 6%. If you are an investor, you should consider using a housing market indicator to guide your buying or selling decision.
Using the list/sale ratio as market indicator
So how do you logically make your decision to buy or not to buy. Or, if you are a seller, do you sell now, in the near future, or when? There may be an answer to the confusion in the market place.
Can one times the real estate market, and make money by following the monthly supply/demand for homes?
The answer is yes.
Real estate follows the basic economic principle that home prices
are affected by market supply and demand. As can be seen from pricing
trend and data here, home prices are inversly related to the changes in
the supply/demand ratios. Read the full article here>.
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