Market Update

Okanagan/Shuswap Real Estate Market – March/April 2017

Okanagan/Shuswap Real Estate Market – March/April 2017

Overall, sales volume reflects that we’re in the midst of a spring market in the Okanagan/Shuswap. However, we don’t have enough inventory to support typical real estate sales for a busy spring market. Real estate sales in March 2017 were up about 60% over February but are roughly on par with this time in …

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Okanagan/Shuswap Real Estate Statistics – February/March 2017

Okanagan/Shuswap Real Estate Statistics – February/March 2017

Spring has been painfully slow to arrive in the Okanagan/Shuswap this year and so has the usually brisk spring real estate market. But we are seeing an increase in activity in the last few weeks so there is light ahead! Overall, real estate sales are 10% lower than the same time last year. Despite …

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Okanagan/Shuswap Real Estate Statistics – Dec/Jan. 2017

Okanagan/Shuswap Real Estate Statistics – Dec/Jan. 2017

Slow and steady, the North Okanagan and Shuswap real estate market cooled in December and January, returning to more ‘normal’ conditions. Listing activity is still weak and this lack of new inventory is keeping sale prices up. The phones were quiet over the holiday season, but many including our team were fighting that terrible …

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Okanagan & Shuswap Real Estate Statistics – Nov/Dec. 2016

Okanagan & Shuswap Real Estate Statistics – Nov/Dec. 2016

Season’s Greetings to you! At this time of year we like to pause in our busy schedules to send a heart-felt ‘thank you!’ to the amazing people we meet and have the privilege to work with every day. 2016 was a lively year for the Okanagan and Shuswap real estate markets. Sales activity during …

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Okanagan & Shuswap Real Estate Statistics – Oct/Nov 2016

Okanagan & Shuswap Real Estate Statistics – Oct/Nov 2016

2016 is winding down and the experts are starting to forecast what 2017 will look like for B.C.’s real estate market. Over the past month real estate sales slowed. A number of factors suggest we could be heading for a gradual downturn. BCREA suggests less robust economic conditions combined with government policy constraints will …

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Our Unbalanced Fall Real Estate Market

Our Unbalanced Fall Real Estate Market

After a wild summer the fall real estate market felt almost sluggish in the Okanagan/Shuswap, but compared to October last year sales in the North Okanagan were still higher. Our Shuswap region saw a slight decrease. These past 12 months have been a roller coaster ride with major changes to the Canadian financial and …

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Okanagan/Shuswap Housing Market – August/September 2016

Okanagan/Shuswap Housing Market – August/September 2016

It’s been a typical late summer and early fall. Everyone was enjoying the last days of summer and vacation and now it’s back to work and school. August 2016 real estate sales were fewer across the Okanagan/Shuswap region compared to July. Overall, sales dropped about 2% last month – but don’t let that fool …

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Tougher Rules for Insured Mortgages in Canada

Tougher Rules for Insured Mortgages in Canada

This week Canada’s Finance Minister announced tougher qualifying rules for insured mortgages. As of October 17, 2016 insured buyers will qualify to borrow much less. Under the old rules, buyers could borrow more money because they could qualify for an insured mortgage using a full discounted rate for 5 years, provided they took the 5-year …

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Okanagan/Shuswap Housing Market – July/August 2016

Okanagan/Shuswap Housing Market – July/August 2016

The Okanagan/Shuswap real estate market moderated slightly in July compared to June. Fewer units sold and prices remained comparable as did days to sell but the market is still favoring the seller. The number of buyers coming to the region is higher than the number of new and active listings. Until we see some …

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EQUIFAX – New Credit Scoring System

EQUIFAX – New Credit Scoring System

  Equifax has updated its scoring system. ‘Beacon 9.0’ is touted by Equifax as the industry’s ‘leading-edge scoring system. While it maintains consistency with prior scoring criteria, it now provides refinements. These refinements reflect changes in consumer lifestyle and the market. It’s a scoring system that more effectively evaluates new prospects. It predicts the …

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