Get ready to buy quickly if you spot something you like, as those in Metro Vancouver’s real estate industry say things are heating up after a slow winter.
One mortgage broker says more buyers are moving into the market, but there is still a low supply of listings.
“We are seeing a return to the competitive offers with multiple buyers in on the same properties. In a number of cases, that is leading to prices well-over asking,” realtor Dan Pigott said.
He says people should be ready to buy at a moment’s notice.
“Buyers: Get preapproved and be ready for your opportunity,” he said. “The supply is still so limited, so if you see good value — my advice is to jump on it because we don’t know what the future holds.”
Buyers wanting to get into the market should make sure they have a preapproved mortgage so they can make a strong offer, especially if there are multiple offers on the same place.