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The media is going nuts about what is happening in our local real estate market. You've probably heard many different things, but today I want to let you know that our market is very strong. Here are a few reasons why:
I've taken a graphic from Secrets of the Canadian Real Estate Cycle and what you will see is Kelowna becoming the number 2 job market in Canada. When more jobs are available, more people come to town, and when more people come to town, they buy and sell more homes.
Typically, people will rent to start out, and that is why we have 0 vacancies available. Rent prices are rising, by as much as 20%, so this will force people to buy homes.
That means that 2016 could be a record-setting year in real estate!
If you've been looking to buy or sell, please don't hesitate to contact me.