Real Estate in Qualicum Beach, Parksville, and Nanoose Bay
Anchor Realty 113 West 2nd Avenue
Qualicum Beach, BC Canada
(250) 667-0719
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A Rebound, or Just a Blip

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Has the USA Housing Market Hit Bottom, or Will Coronavirus Slam It ?

  • Photograph of Nancy Smith
  • Qualicum Beach REALTOR®
  • Published: Feb 25th, 2020 at 7:28 am

Watching the housing price index and guessing the future is basically gambling.  As Canadians we are watching the political scene in the USA and wondering how our largest trading partner is going to fare. The housing market took a beating and many people just can not afford home ownership, yet prices are climbing. The first half of 2019 was looking very dismal in Canada and USA, but then the market took off with a strong finish in 2019, and prospects are for a busier market. Looking at the Case-Shiller 20-City Composite Home Price Index Year over Year, we see a bottom, and the USA is printing money by the truckload, interest rates are getting hammered, the Coronavirus is affecting consumer supply chains and apparently we still have record oil surpluses, what will happen?

US home price growth accelerated for the 5th straight month in December (the latest Case-Shiller data), rising at 2.85% YoY - the fastest pace in almost a year... (Bloomberg)Case-Shiller 20-City Composite Home Price Index Graph  

On Vancouver Island, prices have climbed due to a shortage in quality home supply, however, in the Qualicum Beach, Parksville and Nanoose areas, there has been a jump in ocean view and ocean front property listings since January 2020.  Most of these homes range from $1million to $2.5 million, which according to other popular waterfront locations, is very reasonable.  

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