With our ever changing Real Estate Market in British Columbia, Buyers and Sellers are continuing to keep an anxious eye on what is to come during the next year.
There's no doubt about it the B 20 stress test on Mortgages, has had a dramatic effect on housing sales, and many agents, including myself, are seeing deals collapse due to Buyers being unable to obtaining Financing.
This is one of the reasons we are seeing an increase in Demand for homes with suites to provide that valuable added income which will allow some local buyers to buy homes normally out of their price range.
The latest BC Real Estate Association Forecast is now published, and here are the details that effect Kelowna and the Central Okanagan Area.
MLS® home sales in the Thompson-Okanagan region, which is serviced by the Okanagan Mainline Real Estate Board (OMREB), the South Okanagan Real Estate Board (SOREB) and the Kamloops & District Real Estate Board (KADREA), fell a combined 17 percent in 2018 and home sales...