United States Real Estate Recovery is affecting our Okanagan Shuswap Real Estate Market


In early 2010 I tried a little experiment. I went on to Google and searched for positive articles coming out of the United States about their Real Estate market. There were none to be found. I am sure, given the vast reach of Google that they were there but I could not find one single positive Real Estate article in the hour that I spent searching. Today the situation is entirely different. Positive news coming out of the US is easy to find and more importantly it is increasing. For instance, RBC is reporting that US consumer confidence rose by 3.2 points to 65.9 in July 2012 from a upwardly revised 62.7 reading in June (previously was 62.0) as consumers were more optimistic about the short-term outlook. Market expectations were for a decline in the measure to 61.5. Therefore, the results are exceeding the expectations. So how does this affect our Real Estate Market in the Okanagan Shuswap. First we have to accept that the single most important factor affecting the market is consumer confidence. That is what drives our market. Most people believe that our local Real Estate Market in the Okanagan Shuswap is dramatically affected by our American neighbours to the south. If they believe it then it is true. The press is grasping this idea and beginning to report the recovering market in the US and our local recovery as well. This will augment our recovery throughout the Okanagan and the Shuswap.

1 Comment

  1. Brickell Condos 08/16/2012 at 6:11 AM

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Bill Hubbard

Bill Hubbard

CENTURY 21 Executives Realty Ltd.
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