Is now a good time to sell when we read news headlines like, for example, “housing market hasn’t come to a total standstill, but it is operating well below normal levels”, “sales activity steadily declined over the summer months and into the start of fall”, “transactions slide” and ‘home sales remain sluggish’?
Despite economic uncertainty, concern mortgage rates could move higher, and some buyers hitting the pause button, life events keep happening. People retire, downsize or move closer to family. People get new jobs, families grow and relationships change. All these life changes create sellers and buyers no matter what the market is like.
So yes, today’s market may be slower but it hasn’t stopped. Homes are selling on MLS every day. However, for Sellers, it is important to price right from the start to fit today’s market conditions to sell!
Check out the graph below showing MLS residential sale pace over the past 10 years for Vancouver’s North Shore, West Vancouver and North Vancouver,.