December 11, 2018 10:26 am
Updated: December 11, 2018 10:27 am

Two surveys predict Metro Vancouver housing prices won’t face a big drop in 2019

A real estate sold sign is shown outside a house in Vancouver, Tuesday, Jan.3, 2017.

THE CANADIAN PRESS/Jonathan Hayward
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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.

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READ MORE: Housing slowdown continues, says Real Estate Board of Greater Vancouver

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.

READ MORE: Will it crash? Here’s what to expect from the Canadian housing market 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.

© 2018 Global News, a division of Corus Entertainment Inc.

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