All posts by Rom Houtstra
Rom’s Real Estate Market Opinion – July 2024
Okanagan Real Estate Review Welcome to the Real Estate Review for the interior of British Columbia for July of 2024. The market in the interior of British Columbia is maintaining a healthy balanced trajectory. The absorption is well within that 12 to 20% range, indicating that we have a level balanced market between supply and […]
Continue readingMarry the House, Date the Rate!
Rom’s View on the Housing Market Today In 1971, the interest rate for a mortgage was 7.33%. If you waited for interest rates to go down, you wouldn’t have purchased a home until 1993. You would have rented until 1993. You would have rented for 22 years waiting for rates to go down, meanwhile the […]
Continue readingRom’s Real Estate Market Opinion – April 2024
Okanagan Real Estate Review Welcome to the Real Estate Review for the interior of British Columbia for March of 2024. The biggest point to note in the first quarter of 2024 for the interior of B.C. and across Canada is that inventory is rising in all areas (except Edmonton). The inventory rate rising can be due to two […]
Continue readingRom’s Real Estate Market Opinion – March 2024
A Balanced Market As predicted, the market has leveled off into a balanced market right across the board. The spring market has started fairly early this year and our sales are up moderately compared to last year throughout the Interior of British Columbia. The best way to determine whether a market is in a balanced […]
Continue readingRom’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 […]
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