The term “buyer’s market” gets people excited — and understandably so.
More listings, fewer bidding wars, and a better chance to negotiate sound like the perfect setup for buyers.
But in reality, a buyer’s market doesn’t mean every buyer automatically wins.Here are three common myths I hear all the time — and what’s actually true behind them.
In truth, most well-priced homes still sell close to fair market value, especially if they’re newer, move-in-ready, or located in sought-after neighbourhoods.
Myth 1: You Can Make Extremely Low Offers and Still Get the Home
When inventory rises, some buyers think they can offer far below asking and still get accepted.In truth, most well-priced homes still sell close to fair market value, especially if they’re newer, move-in-ready, or located in sought-after neighbourhoods.
A smart offer is based on data, not assumptions. Looking at recent comparable sales, days on market, and seller motivation helps you craft an offer that’s strong and realistic — not one that gets dismissed immediately.
In Metro Vancouver, for example, detached home prices may level off or dip slightly, but desirable areas often hold steady because long-term demand remains strong.
Myth 2: Prices Always Drop in a Buyer’s Market
A buyer’s market reflects more choice, not necessarily a price crash.In Metro Vancouver, for example, detached home prices may level off or dip slightly, but desirable areas often hold steady because long-term demand remains strong.
Instead of timing a “perfect bottom,” focus on long-term value — location, building quality, and future growth potential. Those factors matter more than chasing the last few thousand dollars in savings.
Myth 3: You Have All the Time in the World to Decide
More inventory doesn’t mean no competition.The best-looking homes — ones that are updated, well-located, and priced right — still move quickly, even in a softer market.
Serious buyers stay prepared: pre-approval in place, documents ready, and clarity on their must-haves.
That way, when the right home shows up, you can act decisively and confidently.
Understanding real data, setting realistic expectations, and staying ready to move when the right home appears will help you make the most of it.
The Bottom Line
A buyer’s market brings opportunities, but only for those who approach it strategically.Understanding real data, setting realistic expectations, and staying ready to move when the right home appears will help you make the most of it.
📩 Thinking about buying? Let’s talk about what’s happening in your area and build a plan that fits your goals.
Email me at katie@katie-chao.com or call/text 778-834-3085 to start a conversation.
Email me at katie@katie-chao.com or call/text 778-834-3085 to start a conversation.
