Alberta is pushing our Okanagan Shuswap Real Estate Market?
2 years ago if someone asked a Realtor what would happen to the Okanagan Shuswap Real Estate Market if energy prices dropped through the floor; she almost certainly would have said it would hurt us. However, that is not what has happened. It seems that it is driving our market in a way that no one, including some of the so called "Gurus" anticipated. Sales to Albertans of recreational properties is down substantially. However, sales to Albertans of single family residences are up substantially. What does this mean? They are cashing in and moving to paradise. They are moving their retirement plans up. There is now a new billboard between Vernon and Kelowna by a moving company stating that they specialize in moves from Alberta to BC. A recent survey of Realtors in our 4 Okanagan Shuswap Real Estate offices showed it is estimated that 70% of the Realtors are working with buyers from Alberta. These fine folks will buy groceries, go to movies, buy cars and consume all the consumer goods they need. Not only will this bolster our Real Estate Market but it will help employment, business and our general economy. Come on Alberta ... welcome to paradise.
- February 11, 2016