Market Update for August 2018 from Vancouver Realtor & Mortgage Broker Jessi Johnson

Market Update for August 2018 from Vancouver Realtor & Mortgage Broker Jessi Johnson. Mortgage Market Update - July 26, 2018

Market Update for August 2018 from Vancouver Realtor & Mortgage Broker Jessi Johnson video duration 1 Minute(s) 53 Second(s), published by Jessi Johnson on 12 08 2018 - 21:29:11.

I am Vancouver realtor & mortgage broker Jessi Johnson and this is your market update for August 2018
It was the 5th straight month of 30% decrease in sales

. With core inflation under 2% and the 10-year Treasury under 3%, the Federal Open Market Committee held steady on interest rates last week
Sighting the lack MBA AVP of Economic and Forecasting Joel Kan details latest information from MBA's Weekly Application Survey
For more info, visit http://mba.org/research.

I am Vancouver realtor & mortgage broker Jessi Johnson and this is your market update for August 2018. It was the 5th straight month of 30% decrease in sales. We just had the slowest July in 18 years.

Summer is usually a quiet time in real estate but this year is exceptionally slow. Why do you ask? Higher mortgage rates, the newest stress test on mortgage approvals and the increased purchasing taxes.

Here are the averages of values for Greater Vancouver:

The average house is about 1.6 million

The average townhouse is about 850k & condo is about 700k

It is a great time to buy or sell and upgrade, call for more details