Category Archives for Real Estate News
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 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 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 […]
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