May Heats Up the Market

May Heats Up the Market

Jun 24, 2019 | Finance, Local, Real Estate

While most of the Canadian market is slowing down and showing signs of a pricing decline later this year, the month of May had the best sales activity yet. Although affordability continues to remain questionable, reports indicate that housing prices are decreasing as predicted based on the introduction of new policies like the speculation tax.

“Policy has been on the right track on the provincial level,” according to Josh Gordon with the Simon Fraser University School of Public Policy. “The market has slowed down and prices are starting to fall as we would expect if we thought the major issue was foreign ownership.”

The market ahead is leaving many with a lot of questions. Will the new policies in place put unnecessary stress on the housing market? Is right now a buyer’s market, or a seller’s market? Should I wait to list my home, or try selling now before things change more?

For honest, qualified advice and insights on the market and how to handle your property, you just need to give me a call. Together, we can navigate the market’s current complexities and move you into a situation that makes sense!

Additional Reading

Rise & Shine

    Can you feel that warm spring sun finally coming out?! With a bit of luck, winter should finally be behind us; which means summer is just around the corner. This year has already been off to a great start, with our first month reporting a year-over-year sales...

Budding Success

    While it’s still early to tell what the rest of the year’s market activity will look like, one thing’s for sure - 2020 is off to a great start, setting up the spring market perfectly.  It’s reported that there was an over 23% increase in average market activity...

Cold Weather, Hot Market

    While 2019 may have been off to a slow start, we certainly ended it strong. With lower inventory and higher sales than December last year, the market is looking a lot warmer than the weather heading into this new decade. All this, and the fact that homes sold...