September was an interesting month for Real estate in the Okanagan and Shuswap areas.

When we look at the graphs for Real Estate sales over the years in any market they always seem to have 2 humps. The first hump is the spring market. It doesn't matter whether we have a good market or bad in any given year the spring market is always the hottest time of year for home sales. Then the market usually slows in July and August because the kids are out of school.  Parents are preoccupied with enjoying their kids and holidays in the summer. Then there is another surge or hump in the fall when the kids go back to school and mom and dad are ready to go house hunting again. However, Real Estate statistics are always a month or 2 behind what is really going on because of the time period from getting an offer accepted to possession date. September statistics are a classic illustration of this process. It illustrates the slow activity we saw in August. All the stats are down. Sales and absorption are down in all three areas; the Central Okanagan, North Okanagan and the Shuswap. We fully expect it to be back on track in October and November for the first year of recovery. It will be a modest recovery in 2012 but a recovery just the same.

There are no comments

Thank you! Your comment has been submitted and is awaiting approval.

Blog Archives