June 2022 Newsletter Introduction

June has arrived! How quickly time have flown already, and Summer is right around the corner. May was such a busy month for me with tons of celebration that I needed a breather! However, there was no time for that since I just got stuck with COVID – which sucks. Fortunately, the symptoms aren’t so bad but it definitely puts my energy on the very low side. Regardless, still stay safe since there is a new disease called the Monkeypox to be careful of! As for travelling plans, I’m hoping to visit Toronto later in the year. What are your travel plans?

So, has anything has changed during the May month? As of now, not much as changed.  Transactions and activity has definitely slowed down across the board in the lower mainland. As you may already be aware, the next rate announcement from the Bank of Canada will be on July 13, 2022 to continue on curbing inflation. As the government had announced – “With the economy moving into excess demand and inflation persisting well above target, the Governing Council judges that interest rates will need to rise further” This will continue on impacting the real estate market due to the affordability and demand. 

– Sam