It’s the beginning of a whole new year and that means it’s time for expert predictions about the Real Estate market in 2019:
From the Professor:
“My guess is 2019 will not be a banner year for sales in Greater Vancouver and I expect further price declines,” said Tom Davidoff, an associate professor at UBC’s Sauder School of Business.
From the Accountant:
Historically, the real estate industry has been a “laggard” when it comes to embracing technology, says Frank Magliocco, a partner at PwC Canada who specializes in the housing market.
“But I think what you’re going to see now is a fairly significant ramp up in embracing that technology once it becomes more mainstream,” he said.
“It’ll be increasingly important to remain and be competitive in the marketplace. Once you see these technologies prove out, you’ll see more and more adoption.”
When it comes to reversing their crisis-era bond buying, central bankers are focused on the destination. Traders in risk assets care more about what could be a painful journey.
The tension may prove even more consequential in 2019 now that the European Central Bank is stopping — though not yet unwinding — asset purchases. Bank of America Corp. analysts say liquidity from the developed world’s four major central banks will contract by $200 billion next year, driving volatility in the riskier markets that thrived under quantitative easing.
From the Real Estate Salespeople:
Even though British Columbia is expected to lead the country’s year-over-year decline in home sales in 2019, the provincial average resale price will rise slightly, according to a national real estate forecast published December 17.
The average sale price of a B.C. home sold on the Multiple Listing Service next year will be $720,000 – a rise of 0.9 per cent over 2018’s figure, predicted the Canadian Real Estate Association (CREA).