March 2023 Greater Vancouver Real Estate Market Insights
Welcome to the March 2023 episode of the Presale Pulse, a real estate show brought to you by hosts Ryan Lalonde and Suzana Goncalves. Watch the video to understand the latest macroeconomics, pre-sale, and resale trends over the last 30 days affecting the local real estate market across Metro Vancouver and the Fraser Valley.
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Bank of Canada Keeps Interest Rates Flat
The Bank of Canada held the overnight rate flat at the latest policy meeting but provided cautionary forward commentary. Plus, recent developments in the labour market as well as hotter-than-expected inflation reports in the US, have affected previous optimism that the last of hikes are behind us.
Cautious Optimism is in the Air
There are some promising signs for the pre-sale market and projects launching in today’s market. Developers are actively looking for the right window to launch their product into the market, and we expect this to lead to increased launch activity in late-Spring and Fall markets.
Benchmark Pricing Inches Up
As we head into the Spring season, there are promising signs of improvement in the Metro Vancouver resale market. Most notable is the price appreciation on benchmark pricing.
Pre-sale Projects mentioned in this episode:
- Curv by Brivia Group
- Perla by Polygon
- Highline at Garibaldi Springs by Polygon
- Finch Drive by Diamond Head Development
Links mentioned in this episode:
- March 2023 Pre-Sale Pulse Report
- MLA Advisory Services and Sample Reports
- Contact Advisory
- 2023 MLA Intel Report
- This Year in Real Estate Panel Event
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