April 2019 Market Report.

By
Real Estate Sales Representative with RE/MAX Kelowna

The Financial Post just released an article by Kevin Carmichael which states interest rates appear to be in a holding period until later in 2020.

We hope this translates into a softening of the impact of the stress test implemented last year, and an encouragement for buyers hoping to secure a lower interest rate.

Speaking to tourism and travel, most buyers (59.65%) as indicated in the OMREB quarterly March Buyer’s survey are still coming from within the OMREB Board area (Peachland to Revelstoke).

This is followed by the Lower Mainland/Vancouver Island and Alberta, 14.91% and 9.65% respectfully.

Okanagan Mainline Real Estate Board April Stats state sales and average prices are down slightly, and listings are up. It appears the shift into a Buyers Market is here. This can be good for the coming months as many buyers are waiting for conditions just like these to get into the market.

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Rainer
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Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the update, all the best to you as you get many of these properties listed and sold.

May 06, 2019 08:41 PM #1
Rainmaker
3,209,384
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Steve funny you should write this post, I was working on my Newsletter and one of the points I was focusing on was that now that there is no talk about Interest Rate Hikes and no talk about Recession, it has generated a momentum that is more than the normal Spring Market...Endre

May 06, 2019 10:28 PM #2
Rainmaker
5,039,574
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Steve Higgins I think we will have a strong 2019 and into 2020.... the election will determine the rest!!

May 07, 2019 05:59 AM #3
Rainmaker
573,507
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Hi Sally Crane 

Thanks for stopping by and leaving a comment. I like your way of thinking, I sure hope I can get a lot of the listed and sold!

May 07, 2019 02:57 PM #4
Rainmaker
573,507
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Hi Endre Barath, Jr. 

Thanks for stopping by and commenting. What is it they say......Great minds think alike! lol

May 07, 2019 02:58 PM #5
Rainmaker
573,507
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Hi Barbara Todaro 

Thanks for taking the time to stop by and leave a comment. I do agree your economy seems strong right now and your election will determine what will happen going forward. Our election is this fall so it will be an interesting time here.

May 07, 2019 03:02 PM #6
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Rainmaker
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Steve Higgins

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