Home Prices Up $130,000 In Q1 2022

With the March numbers firmly in place we can share that Vancouver home prices increased in value by over $130,000 in the first 3 months of 2022.   This comes on the heels of a record setting 20% increase in prices during 2021.   So when will this torrid pace of appreciating values end?  Soon.   Very soon.    2 of the 3 price metrics in March were lower - and this is just the beginning.  With most banks Fixed Rate Mortgages around 4%, we're seeing an immediate impact on the marketplace.  And how could you not?  With rates up 2.5% this year the average home buyer has seen their buying power decrease by 20%        A $2,400 monthly payment  a year ago got you a $700,000 mortgage.  Today, $500,000.   Big big difference.   So what happens next?  We dive into the data and give you our feedback, analysis and predictions on what is going to happen over the upcoming months.www.thevancouverlife.com _________________________________ Contact Us To Book Your Private Consultation:📆 https://calendly.com/thevancouverlifeDan Wurtele, PREC, [email protected] Dash PREC778.898.0089 [email protected] www.thevancouverlife.com