May Heats Up the Market
May Heats Up the Market
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
Intentional Moves
Recently we talked about the cost of waiting and, ironically, it looks like buyers are still waiting. While national reports suggest that housing affordability is improving, many Canadians remain hesitant because of the uncertainty we’re so many headlines about. But,...
Right Between the Lines
A recent report noted that rent prices in Kelowna are on the decline, with BC showing the greatest rental price decrease in Canada so far. With increased rental supply and rising vacancy levels across the province helping ease pressure on the price of housing, it’s...
The Cost of Waiting
If you haven’t read my latest blog post yet, let’s bring you up to speed. Last month we talked about buyers and sellers both sitting on the fence, with buyers waiting for prices to soften and sellers waiting for stronger demand. But, here's the thing about fences -...
