Insanely high real estate prices in Nanaimo are predicted to be a thing of the past. However, where did we see the highest fluctuation in home prices, North or South Nanaimo? Join Top Nanaimo Real Estate Agent Scott Lissa as he breaks down the past five years of real estate price increases and the predicted decrease forecasted by the British Columbia Real Estate Association in 2023.
Many factors play into the price of homes, such as mortgage interest rates, supply of homes, homebuyer demand, and affordability. The severe lack of home supply could currently offset the predicted 5% decrease in British Columbia real estate prices in 2023. It's going to be a crazy year on Vancouver Island one way or another.
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