Newsletter

BC Homes Sales Set to Normalize in 2020

Vancouver, BC – September 5, 2019. The British Columbia Real Estate Association (BCREA) released its 2019 Third Quarter Housing Forecast Update today.

Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 5 per cent to about 75,000 units this year, after recording 78,505 residential sales in 2018. MLS® residential sales are forecast to increase 11 per cent to 82,700 units in 2020, just below the 10-year average for MLS® residential sales of 85,800 units.

“BC markets are showing signs of recovery after nearly a year and a half of policy-induced declines,” said Brendon Ogmundson, BCREA Deputy Chief Economist. “We expect that recovery to continue into next year, with home sales normalizing around long-term averages.”

A recovery in home sales has slowed the accumulation of resale inventory, with active listings still well short of the previous peak in 2012. That leaves market conditions at the provincial level essentially balanced with little upward pressure on prices. We anticipate that the MLS® average price will decline 2.4 per cent in 2019 before rising modestly by 3 per cent to $718,000 in 2020.

For the complete news release, including detailed statistics, click here.

First Time Home Buyer’s Incentive

An Affordable Place to Call Home

Every Canadian deserves a safe and affordable place to call home.

Yet for too many hard-working Canadians, especially for young people, it feels like an impossibility. There aren’t enough houses for people to buy, or apartments for people to rent. That makes finding a good place to live too expensive – beyond what many people can afford.

The measures in Budget 2019 plan to increase the supply of housing, because it is the most effective way to address affordability in the long run. Also, the Budget 2019 proposes to crack down on the people who break the rules – who evade taxes or use real estate for money laundering – making housing less affordable for the people who need it.

And to help more middle class families find an affordable home today, Budget 2019 is offering new, targeted support for first-time home buyers, and taking steps to address lack of housing supply and make the housing market more fair.

FULL ARTICLE

Annual Pub Night at Roo’s Pub

We would like to thank everyone who came to our annual Pub Night at Roo’s Pub. It was a great event thanks to the nearly 100 people who helped us to raise over $5000 for the Zajac Ranch. Congratulations to all of the bingo winners and thank you to Sheila Francis for re-donating the winnings from the 50/50 draw. Also, we want to extend a special thank you to everyone who donated prizes.

Client Referral Program

 

Did you enjoy working with us? If so, you’ll be glad to hear that we have partnered with the mortgage experts over at The Home Happy Team to provide a chance to win a $1500 Flight Centre gift card!

Your name will automatically be entered as long as you have referred someone to us or done a deal with us this year! This contest will run until December 31, 2018 and the winner will be chosen January 4, 2019.

 



*Prize will be one Flight Centre gift card with a face value of $1500. It will be redeemable at any Flight Centre location across Canada.

Find out more here!