One of the key factors to sustaining and even possible increasing values in the housing market are the number of active listings that are available. The simple graph illustrates the decline of the housing inventory here in the Abbotsford market. Ultimately, even though there may be fewer Buyers that can afford the higher prices with the changes in lending practices, with the lower number have houses available, pricing has remained relatively stable. Another measure that I have used successfully over my years in Real Estate is just to see the activity that is on the various properties. As Realtors, as we set up appointments to look at properties, when we set up for 10 and only get 2 or 3, we know there is a lot of activity out there. This is what we are currently experiencing. To summarize, it is still a great time to sell a property. Prices are still very good. This trend is likely to continue until the inventory of homes increases.
February 15, 2017