Listing activity this fall has been quite sporadic… from heavy, active weeks to very thin weeks with almost nothing.

Sale prices continue to reflect a lower buyer tolerance for asking prices and most properties are selling with the buyer driving the sale price. Savvy sellers are pricing sharply and selling quickly as the price correcting continues.

So, we remain in a buyer’s market but with lower rates on the horizon and new insured mortgage rules coming in December it will be interesting to see whether these combine to stimulate buyer activity.

Here’s what my admittedly conservative crystal ball says: – I expect the market to remain calm and buyer driven right through to spring 2025 and there is a good chance buyers who are currently on the fence will wait for another rate reduction. – Banks are resorting to what I am calling “desperate lending” by trying to encourage more people to take on more debt. This is especially evident in the number of new mortgages where co-signers or guarantors are also responsible for the loan.

Many continue to speculate on the future of sustainable housing prices and we are no exception in Squamish. If you’re looking for no BS advice, I can help.