Running averages is the system where you compare the average for the most recent 12 month period for any given stat to the average for the previous 12 months. It gives you a better idea of what is really going on. For the third month in a row the Salmon Arm / Shuswap area and the Central Okanagan lead the way in positive growth and price increases. The North Okanagan has strong statistics but remains constant. The best indicator for what is coming down the road for our market is the absorption of product. That is the percentage of total residential inventory that sells on a monthly basis. In all 3 zones, the North Okanagan, the Central Okanagan and the Shuswap, the absorption is rising. This has shown us over the last 25 years to strongly indicate a rising market. It seems pretty clear that the market is likely to continue its present path of increase.
- August 18, 2015
CENTURY 21 Executives Realty Ltd.