Okanagan Housing Market the Strongest it’s Been in Seven Years!
Kelowna’s real estate market has seen some major growth in the last few months. According to the Okanagan Mainline Real Estate Board (OMREB), the Okanagan housing market is the strongest it’s been since 2007!
“Spring sales activity in the Okanagan-Shuswap is much stronger than in previous years. Following five months of steady growth in sales with inventory down despite listings being up, OMREB has moved firmly into balanced market conditions,” says Darcy Griffiths, OMREB President and active REALTOR® in the North Okanagan.
This growth can be attributed to a few factors, including low mortgage rates and high levels of demand. The OMREB also attributes increased homes sales to “accelerating market and employment conditions in Alberta, combined with an unfavourable US exchange rate, which are pushing recreation buyers back into the Okanagan-Shuswap.”
If you’re in the market for a new home, now is definitely the time to lock in your new home purchase…before prices increase and the number of available homes decreases!
Whether you’re looking for a move-in ready home, or a possession date in late 2014 or early 2015, chances are Mission Group has a townhome that can meet your needs.