Written by Bill Hubbard
Looking to buy a home in the Okanagan Shuswap?....Beware of, "I'm still worried about"
It is so interesting watching the Real Estate Market in the Okanagan Shuswap go through its cycle and the reactions of our beloved customers as they watch it. We have now stepped into the, "I'm still worried about" phase. The housing market in the Okanagan Shuswap stopped going down and started leveling off in all 3 zones in the middle of 2012. Since then it has been in a slow gradual recovery consisting of decreasing inventory and increasing absorption and stabilizing of prices. We are now starting to see prices start to creep up. Prices are the last of 5 major statistics to start to change. However, it doesn't matter how many indicators there are to show where the market is going we now hear the same phrase we heard in 2001 to 2003, "I'm still worried about..." ;I'm still worried about the dollar, the US economy, the interest rates, inflated prices in Vancouver and a multitude of other fears. However, the Real Estate market is not like the stock market. It changes slowly and it is very local. It's like a freight train. Very hard to get moving but once it does start moving it's hard to stop. Leading edge investors are starting to buy now.
If you have any questions about buying in the Okanagan please give me a call at 250-550-6583