BC Housing Expected To Cool In 2019

BC Housing Expected To Cool In 2019

Jan 24, 2019 | Local, Real Estate

Reports from market watchers claim that 2019 could be one of the more affordable years to buy a condo in B.C., thanks to the increased supply and regulatory measures that have contributed to suppressing home sales.

The Real Estate Board of Greater Vancouver reported a nearly 43 per cent decrease in condo sales, townhouses, and detached homes in October, compared to sales in November of 2017. Some economists claim that the driving force behind the downward turn is due to more stringent mortgage qualifying requirements, and higher interest rates.

Homeowners can expect to see increases of five to fifteen per cent for assessed values of single-family homes. The valuation assessments are already underway, but the B.C. Assessment has already said that the softening market has lowered some valuations in Metro Vancouver.

Contact me to learn more about what to expect from Kelowna’s condo market this year, and start searching for your new home today!

Additional Reading

They Grow Up So Fast

They Grow Up So Fast

    The headline this month? Kelowna remains the fastest growing metropolitan area in the country, with over 40% of new buyers relocating to the valley from the lower mainland and only 30% being from the Okanagan. Our little beach town is growing up fast! It...

Spring Market Update

Spring Market Update

    As the snow starts to thaw and the sun starts to shine it’s time to get excited about the coming spring in Kelowna. You can safely bet that the worst of the winter is in the rear-view and that the warm weather is just around the corner! Unlike the...

Selling Season

Selling Season

    Over the last two years we’ve seen a tremendous amount of interest from Canadians looking to downsize to a smaller community with greater access to the outdoors and more adorable living. The answer to this question quickly became Kelowna, and there’s...

250-470-0377