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Steve Destroys 5 Myths of the Market - The Surrey Report - July 2019 

Now that we are a year away from the peak of our market place in terms of selling prices, Steve and Chandani thought it would be good to educate you on the five myths of the "Vancouver" real estate market in this month's Surrey Report for July 2019.

Watch this video to find out the truth about the following five myths.

1. The crackdown on money laundering and foreign buyers is what has cooled off the market.
2. The bubble has burst.
3. The stress test is bad for the market.
4. Prices will be better next year.
5. Saving a 20% downpayment and avoiding CMHC will get me a better interest rate with my bank.

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Benchmark Prices: (Surrey Combined)

? Detached = $1,057,000 / 249 Sales
? Townhomes = $571,400 / 195 Sales
? Condos = $423,600 / 143 Sales

For the complete stats package, please visit http://www.fvreb.bc.ca/stats/