REAL ESTATE...Don’t Expect Home Price Plummeting in 2019!!
Canadian Real Estate Association (CREA) reports Home Sales in 2018 down by 11.1 %. CREA also predicts another 0.5% in 2019 year.
Here are a a few facts… New home construction has almost come to a halt. The existing inventory has been sold out, and fewer units are about to come on stream this year, 2019!
Municipalities, Regions, Provincial and Federal Governments continue with their thirst for tax money.
There is no sign to relax any regulations: Exiting Exuberant levies, Market’s Interference, Stress Test, Non Residents Tax, Land Transfer Tax, just to name a few...
This is putting pressure on the Re-sale Market, and as result fewer and fewer homes will be available for sale, and at worst, house prices shall remain stable with upward pressure of price increase in 2019.
Government intervention in free market with draconian politics has caused considerable damage in general, and specially to those first timer buyers where policies were designed to help and practically eliminating any hope to own a home any time soon.
Where are house’s price heading to in 2019?
Supply and demand will be the key indicator!!!
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Broker of Record
Royal Lepage Elite Realty