And with many believing that home prices still have some way left to fall, some buyers are also likely waiting it out to see if they can get a better deal a few months down the line.
All that points to a mixed picture for Western Canada’s housing market as spring looms into view. But while Virk is tempering expectations for the coming months, she’s also doubling down on what’s worked for her in the past in the knowledge that hard work usually reaps dividends.
“Towards spring, I know for sure that it’s not going to be the same as it was back in 2022 or 2023,” she said, “but it’s going to be better than what it is right now. I’m just doing what I’ve been doing: cold calling, reaching out to my existing clients.
“It’s slow right now, but that doesn’t stop us from doing anything. It’s not that we just sit back and there’s nothing to do. I keep doing what I do every day and that discipline needs to be there.”
Stay tuned to Canadian Mortgage Professional in the weeks ahead for more coverage from the Canadian Mortgage Summit Vancouver, including exclusive video and on-site interviews with top mortgage executives.