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Rom’s Real Estate Market Opinion – Feb 2024
The Real estate market in January of 2024 is sending us mixed messages. The stats for January indicate that the market is actually down in the Central Okanagan. The absorption in the Central Okanagan is below 10% for the second month in a row. If you look at these statistics you would say that the […]
Continue readingRom’s Real Estate Market Opinion – Jan 2024
Rom’s Real Estate Market Opinion January 2024 As far as market corrections go, 2023 was not a bad year. It was the most minor correction I have ever seen. In general, the market right across Canada stepped in and stayed into balanced territory by the 4th quarter of 2023. The first two quarters of 2023 […]
Continue readingRom’s Real Estate Market Opinion – Dec 2023
SEASONS GREETINGS! It is a wonderful time to reflect on this year and I am feeling grateful and blessed for the support I receive from you, my clients and friends. I hope to continue being able to support you with all of your real estate needs. In October I mentioned that the Real Estate market […]
Continue readingThe Real Estate Market According to Rom – November
The real estate market in the interior of British Columbia is starting to show signs that things may be leveling off some. Below is a graph of the Bank of Canada overnight lending interest rate announcements since it was .25% in April of 2022. The last two interest rate announcements from the Bank of Canada […]
Continue readingRom’s September 2023 Market Review for the interior of BC
There are three terminologies that I personally use to describe what is going on in the real estate market in the Interior of British Columbia. They are: “a leveling off”, “a recovery”, and “a correction”. In the last two years we’ve gone from a recovering real estate market (Rising) to a leveling off and we […]
Continue readingFor Sale: Custom Built Tudor Style Home On Acreage in Ellison!
Custom built, Tudor Style character home and guest house on a private, peaceful and quiet 3.46 acres, located next to award winning Ancient Hill Winery and close to UBCO. This home features vaulted ceilings, beautiful hickory hardwood flooring, low E and low E3, energy efficient windows and 3 good sized bedrooms on the main. Downstairs […]
Continue readingRom’s June 2023 Real Estate Market Opinion
Okanagan Market Prediction Okanagan Real Estate Market I hope you are having a fantastic summer and staying cool in this heat! The real estate market in the Kelowna area is remaining strong and steady. Average absorption is rising and in some areas of the Okanagan, has passed the 30% mark. That tells us that the […]
Continue readingRom’s May 2023 Real Estate Market Opinion
Okanagan Market Prediction Market on the Rise When interest rates stopped rising and leveled-off, we changed our predictions to a slow gradual increase over the balance of this year. That was contradictory to a lot of opinions that were more negative. It appears we may have been a bit light in our optimism. The market […]
Continue readingRom’s April 2023 Real Estate Opinion
Okanagan Market Prediction Cruising along The market is cruising along as we expected it would once the interest rates levelled off. Absorption is rising and is now above 20%. Prices are starting to inch up as well. Sales activity is still lower than normal when you compare April 2023 to April 2022. The reason for […]
Continue readingRom’s Feb 2023 Real Estate Opinion
Okanagan Market Prediction Light at the end of the tunnel As we predicted last month, we see some fairly positive light at the end of the tunnel in the real estate market in the interior of British Columbia. This light is coming from 2 directions. Generally, the spring market in real estate starts when the […]
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