A question I get asked regularly is what are prices going to do in the Kelowna Real Estate Market in 2019.
In the latest Real Estate forecast from the BC Real Estate Association, they are forecasting a fairly flat year, for Kelowna and the Central Okanagan Real Estate Market.
Here is their latest report below.
Multiple Listing Service (MLS®) residential sales in the province are forecast to increase by 2.1% to 80,000 units this year, after recording 78,345 residential sales in 2018. MLS® residential sales are forecast to increase a further 6.9% to 85,500 units in 2020. The 10-year average for MLS® residential sales in the province is 85,800 units. The negative shock to affordability and purchasing power created by the B20 stress test on mortgage borrowers is expected to continue constraining housing demand in the province this year.
The BC economy continues to be highly supportive of housing demand. After five consecutive years of above-trend economic growth, the...