The BC Real Estate Association has published its forecast for the BC Real Estate Market for 2018 through to 2019 today.
Snapshot of their Kelowna Real Estate Market Forecast
- Fall in unit sales for the Kelowna Real Estate Market and Central Okanagan of 2.8% & 0.6% in 2019.
- Average MLS® prices will rise 6.7% in 2018 and 2.6% in 2019.
Read the full summary below-:
BC Housing Forecast Update March 2018
Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 8.6 percent to 94,855 units this year, after recording 103,763 residential sales in 2017. MLS® residential sales are forecast to edge back a further 1 percent to 94,025 units in 2019. Housing demand is expected to remain above the 10-year average of 84,800 units in 2020. Strong economic performance and favourable demographics in BC are underpinning housing demand. However, more stringent mortgage qualification rules, rising interest rates and...