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

Rental Relief

Rental Relief

Last month we took a closer look at how much our community has grown in such a short amount of time. Kelowna saw a municipal growth rate of 14% from 2016 to 2022, and with a significant downtown population increase projected with the addition of a new UBCO campus, a...

Downtown Boom

Downtown Boom

Over the last few years, the secret is out about the Okanagan - Kelowna in particular. Our incredibly high quality of life ratings led to an incredible boom in both the residential and commercial real estate markets, leading to growth that’s pushed us beyond the...

Coming Together

Coming Together

The last two weeks have inarguably been some of the most challenging our community has seen in 20 years since the Okanagan Mountain Park fires. It goes without saying that the McDougall Creek Wildfire took everyone by surprise and has created really trying times in...

250-470-0377