Forecasters are expecting a mild recession currently facing the BC housing market to continue for the next 3 years.
Home transactions across the province dropped by 17 percent in 2018, while the median cost homes jumped to 530 thousand dollars, a six percent raise.
According to the numners, provincial efforts to reduce housing costs have not shown the same impact on overall purchases.
While experts are not expecting the housing market to crash any time soon, they are expecting new mortgage rules and programs to keep things stagnant over the next 3 years.
