The Vancouver West market is expected to increase by 4% due to an uptick in buyer confidence returning to the market.
Currently there are 4.5 months of inventory left on the market, as sales increase, we are beginning to see inventory levels drop so this is expected to be 15% lower in 2020.
First-time and move up buyers are expected to continue to drive demand in 2020.
The most influential factors impacting market activity in 2020 include supply, interest rates and how sellers price their homes.
Higher prices are expected in 2020 due to increasing sales and reduction on inventory.
The population is expected to continue increasing in 2020, putting a strain on supply in the region.