Kelowna Real Estate Market News

This week the BC Real Estate Association published the 2nd Quarter housing Forecast for the Thompson-Okanagan region, which serves the Penticton, Kelowna and Kamloops areas.


As I know many of you are anxiously watching the Market I thought I would share their latest thoughts on our Market and I have highlighted what I believe are the important points.

 

Real Estate Sales were lower in 2017 after a record-setting year prior. Despite that decline, sales were still the second highest on record for the region as a result of a strong provincial economy, robust regional employment growth, significant inflows of interprovincial migration and low mortgage rates.

 

This year, we anticipate those home sales will slow as moderating economic growth, rising mortgage rates and the impacts of both federal and provincial policy measures impact consumer demand. 

 

The BC economy has benefited from four years of above-trend economic growth, which the Okanagan region has both contributed...

Read full post
The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.
MLS®, REALTOR®, and the associated logos are trademarks of The Canadian Real Estate Association.