Photo: Contributed
We now have three quarters of 2019 under our belt, and sales activity in all three Okanagan Shuswap zones continues to soften ever so slightly.
The inventory continues to rise, which is good for buyers, but it is just a slight increase in inventory. The overall assessment of the market is that it is flat.
However, it is interesting that the year-to-date figures are rising slightly in the North Okanagan and the Shuswap but inching down in the Kelowna area.
As we go into the holidays the market will continue to slow based on the natural, annual cycle. Traditionally December is the slowest month of the year.
What this all tells us is that 2020 will continue on this relatively flat trajectory with nothing really exciting in either direction.
If Toronto and Vancouver continue to recover, we may see some positive effects in the Okanagan Shuswap buyer confidence by the last two quarters of 2020.
Bill Hubbard is a real estate broker and the owner and broker of a four-office real estate firm in the Okanagan-Shuswap. He has been in real estate for 28 years and has been an owner and broker in Vernon for 20 years. At almost 60 years old he is just as passionate about real estate as the day he started.
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