Market Minute – December 2019 – Expect an Increase in Provincial Resale Transactions in 2020

In a recent report from Central 1 Credit Union, the bank’s deputy chief economist, Bryan Yu, predicts a decline in provincial resale transactions this year but a 13 per cent increase in 2020. This means my earlier prediction of a balanced market in spring 2021 may have been pessimistic. If Yu’s calling for a slow end to 2019 and
a busy 2020, is accurate, that means we could see a return to balanced conditions as early as THIS spring before the market heats up later this summer. It’s important to remember that Central 1’s BC Resale Market Housing Outlook covers ALL of British Columbia. The provincial real estate market is made up of individual, local markets, each with their own ebb and flow. Whether you’re getting ready to buy or sell on BC’s beautiful Sunshine Coast, call me for the latest local market statistics and insights.

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