May sales up in all 3 zones, Absorption rates higher than 2007.

In May of 2014 home sales were up in all 3 zones again; the North Okanagan, the Shuswap and the Central Okanagan. Whether we compare year to date numbers, running averages or just month over month sales are up dramatically. Year to date sales are up 42% in the North Okanagan copared to the same period last year. The  absorption in the Central Okanagan stayed above 20% for the second month in a row and it topped 20% in the North Okanagan. The absorption is the percentage of the total residential inventory that sells on a monthly basis. These numbers are  higher than we have seen since August of 2007. What is fueling this surge? There are many factors. The country wide economy and Real Estate market recovery in the US, Canadians starting to sell their investments in the US and reapong profits, a booming Alberta economy, a lower Canadian dollar is enhancing our lumber exports, record low level interest rates  to mention just a few. None of these factors are predicted to go away soon. It seems the planets are aligned and we will reap the benefits for a while. Once again, it's a great time to buy. 

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