The residential market surge continues to break records.

It is official. Never has the Okanagan Shuswap seen these kinds of numbers. All 3 zones; Central Okanagan, North Okanagan and the Shuswap are breaking records. The absorption in the Central Okanagan is just under 50% for the month of June. That means that 50% of the entire residential inventory sold in June. Theoretically it also means that we only have 2 months of inventory on the market. We continue to see 3 forces driving our market. We have seen a drastic increase in people from the Vancouver area cashing in and moving to the sunny Okanagan Shuswap caused by the crazy market there.  We are seeing increased investment from the US caused by the difference in the dollar. And we are seeing increased migration from Alberta caused by the low oil prices and the NDP government.(Their words not mine). This market does not seem like it is going anywhere any time soon. 

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Bill Hubbard

Bill Hubbard

CENTURY 21 Executives Realty Ltd.
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