Category Archives for Real Estate News
Rom’s July 2022 Real Estate Opinion
Okanagan Market Prediction The Real Estate market in the Okanagan is going through the predicted correction of the last couple of months. The big story this month is the market changes in the Kelowna area. Absorption has dropped to 11%. In general, a consistent absorption above 20% will create upward pressure on prices. A consistent absorption below […]
Continue readingRom’s June 2022 Real Estate Opinion
What is happening to our house prices? In the Central Okanagan stats show that the average price has dropped slightly in May 2022 compared to April 2022. BUT! A month does not make a market. What it does mean is that the crazy frenzy of multiple offers (all over list price!) is over. If we see a […]
Continue readingRom’s April 2022 Real Estate Opinion
What’s happening in the Okanagan Real Estate Market? The Federal Government has announced 2 ways they are considering to slow down the upward pressure on house prices. Firstly, a proposed ban on foreign buyers purchasing houses across Canada for the next 2 years. However, the percentage of foreign buyers in Canada has dropped from 9% […]
Continue readingRom’s November Real Estate Stats & Opinion
Okanagan Real Estate Report November 2021 *click images to enlarge Rom’s Real Estate Opinion The real estate industry is full of surprises; never a dull moment. That’s why I love this business so much. Very often people quote “history repeats itself”. It’s pretty hard to find historical data that illustrates that history is repeating itself in […]
Continue readingRom’s October Real Estate Stats & Opinion
Okanagan Real Estate Report October 2021 *click images to enlarge Rom’s Real Estate Opinion This month the overall message for our real estate market is positive, (with a little bit of caution). The market is cruising along just as we predicted. Perhaps a little better than we predicted. Let’s talk Absorption The absorption (percentage of […]
Continue readingRom’s August Real Estate Stats & Opinion
Okanagan Real Estate Report August 2021 *click images to enlarge Rom’s Real Estate Opinion The phrase of the month for August 2021 for the Okanagan Real Estate market is “Levelling Off”. I hate to be a broken record but this is what was expected. The insane market of the last 2 quarters of 2020 and […]
Continue readingRom’s July Real Estate Stats & Opinion
Okanagan Real Estate Report July 2021 Rom’s Real Estate Opinion The market is progressing exactly in the direction that we anticipated. Things are settling down but definitely not crashing. Think of the market in the last year as something like a Chicken Little scenario from the 1943 Disney Movie. For the last 6 months the […]
Continue readingRom’s May Real Estate Stats & Opinion
Okanagan Real Estate Report May 2021 Rom’s Real Estate Opinion There is a very tiny crack in the foundation of the Real Estate market in the Okanagan right now. Sales are actually down in the Kelowna area. If you look back over the years there is almost always an increase in sales from April to […]
Continue readingRom’s April Real Estate Stats & Opinion
Okanagan Real Estate Report April 2021 Rom’s Real Estate Opinion In the current whirlwind real estate market, we are hearing many stories emerging of how fast-paced and wild the home buying process has become. I wanted to share a story with you all today. Home Buyers Debacle A local realtor detailed an experience she had […]
Continue readingRom’s March Okanagan Real Estate Stats & Opinion
Okanagan Real Estate Report March 2021 Rom’s Real Estate Opinion Imagine in any given market, statistics were so off the charts that an experienced analyst says, “It must be a typo”. In March the absorption in the Central Okanagan was 99.76%! What does that mean? In March, virtually all houses that were on the market […]
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