After the benchmark price for Vancouver real estate sales hit an all-time high in April 2022 – the housing market has cooled off as the summer’s gone along. Are we watching as a bubble pops, or is there a reason to remain optimistic that these trends are temporary? For an honest, accurate, and long-term look at the road ahead, we turn to Navid Hakimi – Vancouver real estate dynamo – for an optimistic appraisal and sound advice.

Investing in real estate in Vancouver? Looking to sell at top market price? It takes only a glance to see how dynamic this market can be. 2022 found us in the midst of a boom like no other – whereas the summer saw a 4.5% drop in the benchmark price between April and July. Without a top Vancouver real estate agent to bring some context to this trend – a real estate investor might start to sweat over fears they’ve bought into a bubble. 

This is why we reached out to Navid Hakimi, the realtor who the Vancouver community has come to know as an honest and straight-shot when it comes to getting advice on what the market is really doing. 

Hakimi’s innovative approach to applying past trends to future projections is a clear reason why he’s been named one of Vancouver’s top social media realtors in 2022 – offering sound advice, through Instagram, Facebook, and YouTube, that empowers buyers and sellers alike to thrive in the market with clarity and confidence. There’s even a highly anticipated podcast on the way – the Top Producers Podcast will combine Hakimi’s expertise with guests from a wide range of fields.

So is the Vancouver real estate market a bubble? Are we watching it pop as we move into the end of the summer? Hakimi breaks down what’s really happening.

“In ten-year periods,” the top realtor says, “the Vancouver market has consistently doubled in price. Within that period, there are always adjustments needed – because a lot of times that pace is faster than 10% per year, right? Sometimes like in an average year there’s 15% to 20% appreciation – and the market will trend down briefly to account for that.”

So in five years, the market has shown an ability to raise benchmarks 50%, seven years 70%, and so on. But people don’t always take into account the future – and get so locked into the here and now that the market flutters during its overall upward trend.

“A lot of people are emotional buyers,” Hakimi says. “They see what the rest of the people are doing: when everybody’s buying on the eighth, they are also buying – fearing that the prices will be gone, and they’ll be left out.”

So how do we take emotions out of our approach to both buying and selling in the Vancouver real estate market? Hakimi’s advice: use a long-picture outlook to foster an optimistic perspective.

“A lot of people who invest only see today, next month, three months,” Hakimi says. “If you’re an end user, you’re going to use this property for at least five years. That’s the period you have to be thinking about.”

This perspective takes us out of the moment – and we can calm down about the current downward season we’re experiencing. But the question remains – has the Vancouver real estate market hit its peak?

From Hakimi’s expert angle – the only thing the Vancouver market will do is keep rising in the long-term future. “We have a shortage of land,” he says, “and the price of construction is constantly going up. At the same time, the demand keeps increasing – there are a lot of immigrants from different areas – many of them wealthy people who see Vancouver as an ideal city to move to.”

This demand is a huge factor. Even in the midst of a pandemic that kept many people locked in place, British Columbia saw a record annual net migration in 2021: over 100,000 people moved to the province – with many drawn to the job-filled metropolis of Vancouver. 

This influx of new people, jobs, and money will only grow higher as the world opens up further from the pandemic – and there is only so much room in the highly desired space of Vancouver before things turn up again. 

For now, this is an opportunity for buyers to get into the market – while sellers who bought at the recent peak can rest easy that ROI can come if they hold fast to at least a five-year outlook. 

Understanding there is money to be made in a long-term Vancouver real estate investment, buyers may decide to wait things out – to really buy the dip. Hakimi recommends not waiting too long. 

“When the market is downward,” Hakimi says, “the near forecasts are downward. The Seller becomes motivated and the buyer has more leverage to negotiate with them. But when the market bottoms out – the seller will no longer be flexible. They’d rather not negotiate anymore because they know next month is going to be a better situation for them.”

So if roles are reversed and you find yourself as a seller right now – wait it out!

While it may look at first glance that we hit the peak – the Vancouver real estate market is not a bubble. This is simply a buyer’s market, which is bound to come and go as the market fluctuates slightly on an always upward trend.

With advice that cuts through sensationalism and honesty that keeps your best interest in mind, Hakimi is a real estate agent who leads with heart. His passion is in sharing information that will help you make the right decisions as you navigate the uncertainty of the month-to-month Vancouver real estate market. 

It’s why clients keep turning to him for a fair shake at things, why viewers share his social media content with their families to keep everyone in the know, and why his network has grown from people from a range of industries (helping Hakimi keep his finger on the pulse of what’s happening in Vancouver). 

You can tap into this expertise by following Hakimi on his Instagram, Facebook, and YouTube – also staying tuned to updates surrounding the Top Producer Podcast, a show where the real estate dynamo will share business advice alongside his network of friends in the world of law, finance, and beyond.

If you really want to succeed in the Vancouver market – through all its ups and downs – consider what you can achieve with a real estate agent like Navid Hakimi looking out for your best interests. Contact him here.


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