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

Incoming Inventory

Incoming Inventory

As we slowly make our way into the New Year, the usual speculation about future market conditions continues. Like we talked about last month, there are plenty of market influencers to consider in early 2024 that will set the tone for the rest of the year, like the...

New Year, New Market

New Year, New Market

Happy New Year everyone! Am I the only one who feels like 2024 snuck up on us way too fast?! With the New Year underway, a lot of folks are starting to wonder what lies ahead in 2024 for the Okanagan housing market. Market speculation is always a popular topic around...

Winter Growth Spurt

Winter Growth Spurt

As we head into another winter, the expected rumors and reports of a market slowdown are once again the hot topic in Kelowna real estate. But, speaking from experience, this isn’t an unnatural turn of events. Sales activity in Okanagan housing naturally tapers off...

250-470-0377