Just when will that be?
No one really knows and if you think you can time the market to buy when it is at its lowest and sell when it is at its highest then you must have a crystal ball.
Here is the thing.
This return to a Buyer's market means that first time home buyers might actually be able to get their foot in the door. Young people who previously had to sit on the side lines and watch because affordability was out of hand, can actually get in on the game these days. First time home buyers have an unbelieveable opportunity to buy something that is within reach and their affordability.
If you are selling a home and moving up within the Metro Vancouver area then the sale price of the home you leave behind and the the purchase price of the new home will be relative.
If you are starting to fret about the fact that you have recently purchased a home and it may have lost some of its value then I must remind you that you have bought a home, a place for your family to live, don't let it consume you at 3:00 AM. This is not some short term commodity or penny stock that you have just bought. Every market is a cycle and real estate values always come back and then some.