Okanagan Shuswap Real Estate Market Update for August 2019

The word of the month for our Okanagan Shuswap Real Estate Statistics is "Boring". Like we stated in the last few months the market is flat. No exciting rises or bubble bursts and there will be none in the immediate future. Bubbles burst when the market has shot up like a rocket like 2004 to 2007. Markets rise dramatically when the market previously fell off a cliff like in 2009 to 2013. We have nothing like that going on. The market is good; not great, not terrible but good. All 3 zones are moving along exactly like predicted. The only insight we can give you is that so far it looks like 2020 will be very similar. There may be a slight increase in the markets in 2020 caused by some of the positive lending changes; lower interest rates, lower qualifying stress test rates and the new first time buyer incentive program. These programs and changes will allow a small percentage of the population the ability to buy when they could not buy before the program.

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