Okanagan Housing Market Steadies During First Quarter of 2013

The Okanagan Mainline Real Estate Board reported March 2013 sales activity of all property types is down over the same month last year but showed promising first quarter results.

"During March, sales in our board area mirrored housing activity in most housing markets in the province - remaining fairly flat as reserved buyers continue to be influenced by tighter credit rules affecting affordability and therefore reducing the rate of consumer demand," says OMREB President, Karen Singbiel.

Sales have been slow so far this year but are showing steady improvement month over month. Homes that are priced right and show well are definately selling. We have also started to see homes that have been on the market a long period of time selling. Is this a sign that buyers are gaining more confidence in the market again ? Only time will tell !  April statistics should be a very good indicator as the HST-GST transition has been made and after all it is the busiest time of year.

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