September Market Signals: A Closer Look

September’s market data does not clearly identify a buyer’s, seller’s or balanced market. Months of supply, inventory, days on market and sale-to-list ratio were not reported, making it important to avoid drawing a firm conclusion from a limited set of indicators. The available figures do show softer activity. Median sale price was down 10% year over year, while homes sold declined 8%. These numbers provide useful context, but they do not replace the additional measures needed for a complete assessment of market conditions. For buyers in Abbotsford, British Columbia, this is a useful time to review financing goals and consider whether pre-approval fits the purchase process. Homeowners may also wish to discuss refinancing or home equity in relation to their broader plans, using the available market information as context rather than a prediction. A mortgage conversation can focus on the details that matter to your situation, including timing, affordability and the type of financing you are considering. Message me to review your options.