The market is still HOT!!! Sales are up 58.8% compared to May 2020. This spring market has been a great market, which is likely to continue into this summer’s housing market. The average days on market are only 20 days. And, the inventory is still low, with only 549 residential listings. But everyday more and more listings are coming on the market. Chilliwack has seen an 28.5% increase in prices for detached homes when compared to last year. It is still a seller’s market and everything is selling for asking price or slightly below in most instances. However, the market is starting to cool off a bit now so you are able to get some good deals out there. It is also a great time to get into the market because interest rates are still pretty low, which means you can qualify for much more and your monthly payments are significantly less. If you have any questions about the increase in the stress test and how this will affect your buying power, feel free to reply to this email or give me call/text at 604-812-1326. I would love to hear from you!