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Fear, Opportunity & Understanding the Fall 2023 Canadian Housing Outlook

We can all agree that there is a high level of uncertainty when it comes to the Canadian real estate & housing market right now. Economic growth is slowing, job vacancies are decreasing and the Bank of Canada decided to hold rates at their September 2023 rate decision announcement. So what does this all mean to you if looking to buy, sell or renew your current mortgage? Is the current state of the market something to fear or an opportunity?

In this month's Surrey Report, Surrey Real Estate Specialist, Steve Karrasch of Macdonald Realty walks through the August 2023 stats for the City of Surrey and offers his understanding into what he is currently seeing in the market. As with every Surrey Report, the team also breaks down the August 2023 benchmark stats for the City of Surrey.

Benchmark Prices: (Surrey Combined) (+/- yoy):

Detached = $1,675,40 (+1.4%)
Townhomes = $881,600 (+3.8%)
Condos = $548,200 (+3.5%)

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book time with Steve
call or text: 604-549-5828
email: steve@krproperties.ca

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