December was a tough month

Sometimes a month just does not follow the trend. December was one of those months. Sales were down in all three locations;North and Central Okanagan and the Shuswap compared to last month. They were also down compared to December of last year. What does this mean? At this stage, likely absolutely nothing. "A month of statistics a market trend does not make." The statistics for the year of 2012 are still up right across the board. Sales were up 12.76 % and the absorption was up and the inventory was down. These all tell us that the market is still proceeding towards a slow steady recovery. There are 3 possible explanations for December's downturn in the statistics. First it could be the anticipation of the Obama announcement about the USA Cliffs. Second, we know that the anticipation of the GST being returned to British Columbia's taxes will slow sales as it approaches and create a bit of a flurry after it is gone.This process could have started early. Lastly, as was stated previously it is simply a blip on the radar screen. One thing is for sure that the first few months of 2013 will sort it out. From this Realtor's perspective this year will be slightly better than last year. As always my commitment is to bring cutting edge Real estate news to your desk top.

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Bill Hubbard

Bill Hubbard

CENTURY 21 Executives Realty Ltd.
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