OMREB Archives

Who Purchased Real Estate in October?

Did you know “Empty Nesters/Retired” Buyers make up 18-20% of real estate market in the Okanagan/Shuswap? However, more than 50% of the Buyers are two parent or single parent families with children. OCTOBER SURVEY SUMMARY Property Type: 21.5% by Relocating and moving to similar property type (up from 17.6% in September) 18.2% buying Revenue/Investment Property (down [&hellip

Okanagan/Shuswap Real Estate Statistics – September 2017

October brought both cooler temperatures and a gradually cooling real estate market. Overall, in the Okanagan/Shuswap region sales were down 16% from the same time last year. The change hasn’t been dramatic, but we are seeing fewer sales and longer days on market. Inventory is still much lower than usual and new listings are slow [&hellip

Okanagan/Shuswap Real Estate Statistics – May/June 2017

Spring is normally busy for the real estate market with sales increasing in May over April. This year was no different, with sales 38% higher than April – but 6% lower than May 2016. Real estate listing inventory shortage may be easing slightly, but rising prices, short turn-arounds of home sales and the ratio of [&hellip

Where are the real estate buyers coming from?

It’s a hot topic of conversation amongst sellers and the team at Priscilla & Company, ‘Where are the buyers actually coming from?’. Spring is normally busy for the real estate market Generally, real estate sales in the Okanagan and Shuswap increase in May as compared to April. This year was no different, with sales 38% [&hellip

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 November [&hellip

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 real [&hellip

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 Fixed [&hellip

Okanagan Real Estate Market – November 2015

Wildly diverse Okanagan and Shuswap real estate markets Oil prices received a beating this year, but BC is experiencing a strong economy and housing demand in most (not all) BC communities has been strong. Rock bottom mortgage interest rates and vigorous population growth are providing a strong foundation and boosting confidence. Year-to-date, Okanagan Mainline Real [&hellip

Okanagan Real Estate Market – October 2015

Fall 2015 – A Disappointing Real Estate Market We are well into the fall market. Kelowna is having a record year. While we are still busy to the north in Vernon, the actual sales activity in the Okanagan-Shuswap is best described as ‘disappointing’. You might not know it from the news reports, but the North [&hellip

Okanagan Housing Market – Summer 2015, Hot & Cold

It was a hot and busy summer! Nationally, Canadian real estate sales volume edged up 0.3% between July and August. Across the Okanagan and Shuswap we saw vastly more variation. After a vigorous run-up in sales volume (not price) during 2014 our North Okanagan market cooled this year, and then declined in August. Want more stats? The [&hellip

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