Time the Market?? I've been in business for 18 years so I've seen Buyers in particular, try to do just that. About 15 years ago I heard Buyers say that prices were too high & couldn't go any higher so they were going to wait. I think we know how that turned out.
Then there were those who thought they could spreadsheet their way to success but the only logic in the market is supply & demand. Eventually they threw their hands in the air & jumped in.
If someone has ever "timed"it, I would bet money it was pure luck. None of us have a crystal ball & there are too many external forces that influence our market.
Here's what I would tell a Buyer now. Supply is notoriously low in Vancouver so you must decide which is most important-finding a home you want to buy or waiting to see if the price will come down & possibly missing out. I'm finding currently that Sellers are pricing sharply & sales are then fairly close to list price.
For Sellers I would tell them that all we know to be true is what's happening right now. The risk is prices going up or down in the future. If you're selling to buy, you're staying in the same market. Why are you selling? Those reasons could dictate whether you sell now or wait a while.
Speak with an experienced realtor who can provide you with the facts to guide your decision.
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