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Metro Vancouver housing market heating up, realtor says



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.