Gaining Momentum

The Real Estate Market is all about momentum. The trick is to figure out which way the momentum is going and how long it will go that way.  The graphs of 2010 and 2011 show that in the Okanagan - Shuswap area, there was a second dip of the recession in the last two quarters of 2010. This was undoubtedly caused by the combined pressures of the change in the lending constraints by the federal finance minister in April of 2010 and the institution of the HST in July of 2010.       

That dip lasted right through to the second quarter of 2011. In the third and fourth quarters of 2011 the recovery began to show in the stats. Sales in the last half of 2011 passed the sales of the last half of 2010 throughout the Okanagan Valley.  Even though this is a very slow and gradual improvement, there is momentum and it should continue throughout 2012.

Joel Ellams

Joel Ellams

CENTURY 21 Executives Realty Ltd.
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