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!

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BC Housing Speculation

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