Opinions on how the real estate industry will perform in 2019 will vary from person to person. But generally speaking, experts predict the year to be low in sales with conditions more favorable to the buyer.

In Canada, British Columbia is expected to lead in the year-over-year decline in home sales.

The British Columbia Real Estate Association (BCREA) reports that a total of 78,345 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in 2018, a decline of 24.5 per cent from the 103,758 units sold in 2017

British Columbia Real Estate Association (BCREA)

The decline in sales does not mean that the value of a property will decline. A property price varies from neighborhood to neighborhood. The annual average MLS® residential price in BC was $712,508, an increase of 0.4% from $709,601 recorded in 2017.

It becomes important for buyers and sellers to contact a Realtor who can guide you through your queries and give you a clear understanding of the market and neighborhood of a home.

In our opinion, whenever you can afford a mortgage, that is the best time to buy a home.