Don’t look for any big drop in housing prices in Metro Vancouver in 2019 — despite a big drop in the number of sales — according to a pair of forecasts released Tuesday.
The Royal Lepage Market Survey Forecast predicts prices will rise by 0.6 per cent in 2019, bringing the median price in Metro to just under $1.3 million.
It says while home prices will remain relatively flat during the year, the region’s healthy economy, excellent lifestyle, and beautiful natural surroundings will continue to support the real estate market in the long term.
Meanwhile, the RE/MAX 2019 Housing Market Outlook predicts Metro Vancouver prices will fall three per cent in 2019.
“The drop in sales in key markets across British Columbia can be partially attributed to Canadians’ increasing difficulty in getting an affordable mortgage in the region,” says Elton Ash, RE/MAX regional vice-president.