The real market has turned and it is not going to be business as usual. In fact it will be a lot tougher to maintain your previous years earnings. Judging from the supply of homes and the contract in sales over the past 5 months, the market could be entering a new real estate cycle. The market sentiment has changed, and if by spring next year, home sales are not improving, we could be in for a ride to the downside. Need to cut spending? Find out how.
There are many reasons for the change in market sentiment and why home buyers are staying on the sideline for now. The housing market may not do so well for the next 12 to 24 months as home prices too high to be affordable for the average Canadian families.
Are you prepared for a 30% to 50% drop in your earnings in the next 2 years? Will the housing market be as tough and sales remain at current level? Only time will tell if we are heading for a downturn.
Whatever the outcome, it is good to be prepared and explore your option as how best to work your real estate business. Team 3000 Realty has something to offer to all agents in B.C. Take a look at what we do, and if you like to have more info about us, kindly sent us an email or call James Wong at 604-721-4817 or Louie Pulice at 604-341-0006.
