Let’s take a look at real estate affordability and how much things have changed since the beginning of this year. We have put together some information to compare the average cost of purchasing property in the Lower Mainland from January 2022 to now, at the end of September.

What we want you to pay attention to is the monthly mortgage payment. As home prices have dropped, so has the amount you need to borrow. As you can see, the payments are quite similar. The best part about buying now instead of in early 2022 is that you no longer have to compete and most are able to negotiate the price down. In all honesty, now is a great time to buy.

We welcome your questions and comments. If you would like to discuss things further, here’s a LINK to my online scheduler to book a time to chat.