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

Anchored in Success

Anchored in Success

While New Year celebrations slide into the rear-view, the year ahead begins to set its course. With plenty of speculation about whether or not the housing market would endure post-pandemic conditions, things continue to look up in Okanagan real estate. As new market...

The Future is Bright

The Future is Bright

    As we near the end of the year, many are speculating about what lies ahead for the Okanagan real estate market. Despite many projections pointing to a decline, it’s important to remember how much context can affect these statements. Over the last two...

Weathering the Storm

Weathering the Storm

    Kelowna continues to thrive as the Canadian housing market cools down. Despite “short term uncertainty” in Okanagan real estate, luxury housing, waterfront lots, residential land, and new developments are clear indicators of market prosperity heading...

250-470-0377