A Bright Year Ahead
A Bright Year Ahead
With a white Christmas around the corner (yay!), it’s time to talk about 2020 and what to expect in real estate this coming year.
In retrospect, 2019 was shockingly consistent considering the many happenings throughout the year a change in mortgage qualifying rates, our first glimpse at the new speculation tax impacts, and the federal election. So, what’s around the corner following this unexpected but welcome stability?
Well, it seems like the overall consensus is that things are looking up next year! While some reports may have differing opinions on just how much, it seems like everyone is expecting things to trend upward. With Kelowna having just been named the country’s top hot-spot for real estate investment, we can certainly expect a busy Okanagan market next year.
Stay tuned in the New Year for more updates by subscribing to my newsletter 😉
Happy Holidays, and Happy New Year from my family to yours!
Additional Reading
Winter Buyer’s Market Ahead
As of this month, Kelowna remains one of Canada’s most profitable and prosperous real estate markets, trailing only behind the Greater Vancouver area. But, with the Bank of Canada reducing its overnight mortgage rate to 3.75% on October 23rd and new construction...
Mortgage Rate Debate
Over the last ten years, Canadian mortgage rate fluctuations have had significant impacts on the Kelowna real estate market. This year we’ve already seen the Bank of Canada reduce mortgage rates twice, bringing the current overnight rate down to 4.5% - and it’s got a...
Buyer’s Market Boom
As the Kelowna real estate market approaches the last few weeks of the summer, things are continuing to trend in favour of buyers. Just over a month ago, the Bank of Canada reduced mortgage rates for the second time this year, bringing it down to 4.5% - a welcome...
