Positive outlook for Kelowna real estate
Posted by paige on June 18, 2010 | No Comments
Went to a meeting the other day to listen to a speaker who ALWAYS has a positive take on Kelowna, our growth and our real estate. Rod Gibbings is a local financial planner who has a way of giving the all important reality check when we need it most. Our real estate market is changing and is leaning towards a buyers market again. There has been some press coverage that has painted a negative picture around this most recent shift. Rod started his talk with several pictures of the front page of a Canadian magazine whose titles over the years depicted and predicted doom and gloom in our economy and housing market. Most of these predictions were wrong and in fact, went very far the other way. Check out this revised projection graph from the Organization for Economic Co-operation and Development. Canada by far is the best place in the world!
I’ve heard a lot of predictions being thrown around about Kelowna real estate prices coming down 10% this year. No matter how you look at this, I just don’t see how that can actually happen. The BC Real Estate Council predicts sales to be 3% less than 2009 before climbing 4% in 2011. BCREA also predicts home prices will rise by 6% this year over last and remain static for the most part through 2011. Kelowna has usually done better historically than these predictions that lump BC numbers together. Link to Article.
If you’re thinking of buying or selling, please give me a call on my direct line at 250-862-6464.
Talk to you soon…
Paige
