Highest absorption rate since October of 2007

Any experienced Realtor worth their salt would not like any form of media using the word "boom" to describe the state of the Real Estate market. Last month and article was written that described the Kelowna market as bordering a boom market. That is dangerous language to use. It is just as dangerous as the word recession. Both of these words tend to drive consumers in radical albeit different directions. The market is showing some serious steady recovery but we are a long way from a boom. The residential absorption rates in all 3 zones are up and the rate for Kelowna topped the 20% mark for the first time since October of 2007. Prices are slowly rising and inventory is falling when we compare year over year. That all spells recovery. As the sun comes out of the clouds and spring unfolds in the Okanagan valley our neighbours to the East and West are planning their holidays in the paradise of the Okanagan Shuswap. I think our guests are going to be purchasing homes in the Okanagan Shuswap at a dramatically increased rate as well. For those of us who weathered the recession that never happened it will great to relish in the boom that won't happen as well.  

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