| Statistics

Months of Inventory to the end of August 2019 continues to show the Greater Victoria market as being balanced (it is neither a buyer’s nor a seller’s market) – Prices have stabilized in Greater Victoria and have been falling at a rate close to 1% year-over-year in the last few months.

With mortgage rates creeping down, and the potential for The Bank of Canada to lower interest rates later in the fall, we expect that the market will remain active throughout the remainder of the year.

The next Bank of Canada interest rate announcement is due tomorrow (Wednesday, Sep 4th).  Most industry watchers aren’t expecting a decrease in the overnight rate tomorrow, although rate decreases are likely if the USA-China trade war continues to weigh on the global economy.

 

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