Consumer Confidence Is Back

Residential sales throughout the Okanagan Shuswap are up year to date over 2011 and we are right on track for a slow and steady recovery throughout 2012. Favorable interest rates, a strong Canadian dollar, and a strong Alberta economy all contribute…but the main driver behind our recovering real estate market is consumer confidence. Real Estate consumers have different levels of risk tolerance and investors are at the top of the risk scale when it comes to jumping into the marketplace. They know that the market goes through cycles and that those who get in early, profit from doing so. Investors were active in 2001 and 2002, which was the start of our area’s last upswing and investors are active again now. The press also plays a key role in building consumer confidence and positive news is now being reported on a regular basis. This results in the next level of risk takers to come back to the marketplace and this upward spiral continues until the very risk adverse buyers, who require absolute certainty start to buy. In Real Estate – there is no truer statement than, “The early bird gets the worm”.

Joel Ellams

Joel Ellams

REALTORĀ®
CENTURY 21 Executives Realty Ltd.
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