Home Affordability Improves
“January is generally a slower month in real estate, but what we are seeing so far this year is the additional impact of slower economic conditions across the country and around the world,” says Brenda Moshansky, OMREB Director and REALTOR® in the Central Zone. “We are not immune to these conditions, and while we can’t escape the international and national downdraft, our downside will be mitigated somewhat by our demographics, Okanagan lifestyle and economic diversity.
Meanwhile, the upside is that affordability is improving and is better than at any time in the last two years,” she adds. “Buyers, particularly first time buyers, can take advantage of an excellent selection, record low interest rates and more flexible sellers on everything from price to closing dates.”
Moshansky summarizes, “Listing inventories may come down in the coming months, so now is an excellent time to seriously consider the opportunities out there.”
The Central Zone of OMREB covers an area from Peachland to
The Okanagan Mainline Real Estate Board (OMREB) is comprised of 1,165 member REALTORS® and 91 real estate offices in the Southern Interior of BC. For the most comprehensive source of all real estate listings, home buying and selling information, visit our national websites at www.realtor.ca and www.icx.ca. Our local public website is available at www.omreb.com. All OMREB listings are published in the MLS® Real Estate Review magazine available at all real estate offices and various locations in the Central Okanagan, North Okanagan, the Shuswap and Revelstoke areas.
Courtesy of your Kelowna Mortgage Broker