2014 - A Year In Review

The figures are in and the numbers are very positive for 2014.  All indications are that we are in recovery.  That being said the significant drop in oil prices is of concern to many as if is believed that Alberta buyers are fuelling the recovery in the North Okanagan.  It is interesting to note that in November, 15.1% of buyers were from Alberta.  While the drop in oil prices is one factor that could impact our market - it is just one factor.  There are many other factors that can have an effect on our market such as the decrease in unemployment numbers, the increase in the price of housing in Vancouver, the improvement in the U.S. economy.  In addition, the drop in the value of our dollar makes our goods, in particular lumber, more attractive in foreign markets.  If we had a crystal ball for the future we would know with certainty what 2015 will bring.  What we have is five indicators which we track that give a fairly accurate picture of how the market will perform.  Those indicators are inventory, absorption, days on the market, sales activity and prices.  So far all of these indicators point to a positive 2015.

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The Dent Team

The Dent Team

Sales Representative
CENTURY 21 Executives Realty Ltd.
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