Residential real estate market demand heating up in spring season while supply levels struggle to meet buyer demand
Overall residential sales across the region were down 30.6% over April 2022 but up significantly from sales recorded in March 2023.
After a slow start to this year, we are seeing increased buyer confidence and the arrival of the busier spring market.
The Bank of Canada maintained its overnight rate at 4.5 per cent in their April 12th announcement. In the accompanying statement the Bank noted that demand in Canada still exceeds supply, labour markets remain tight and that first quarter economic growth appears stronger than expected.
However, the Bank expects consumption growth to slow in 2023 as households renew mortgages at higher rates and growth in exports and investment decline as the US economy slows substantially in coming months.
Working in real estate I always get asked about staging, decorating and home renovations. My first response is neat & clean & smell free (free of unpleasant smells). Buyers always notice a home that looks tidy, organized and well looked after. That is the key. But for those looking for more, here are some thoughts and ideas.
What is always a hot topic no matter where you go? Real Estate. Almost everyone owns property, has owned property, is thinking of buying or selling property or knows someone looking to buy or sell.
There are numerous reports that indicate prices and sales are down and interest rates are up following the last Bank of Canada increase in January.
TINA COSMAN |
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 CELL: 250-804-6765 |
In 2005 my family moved to Salmon Arm from Ontario. We were looking for a change of pace; a different lifestyle and safe environment to raise our three children. What we found was the perfect community – offering all the amenities with a small town feel. The Salmon Arm area has great schools, entertainment, shopping, and recreational opportunities year round. We love to ski, hike, bike and explore the local lakes and campgrounds. As an active community member, I proudly support the SPCA, The Family Resource Centre, Shuswap Children’s Association and the SAFE Society. Previous to real estate, I worked as a Human Resources professional for over 18 years. I love people and I love what I do. My dedication to my clients has earned me some exciting career achievements.
Awards:
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Let me show you what the Shuswap has to offer - call me at (250) 804-6765 or send me an email: tina@tinacosman.com |
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