Greetings!
It seems impossible that summer is coming to an end even though we've enjoyed many beautiful sunny days on the lake, on the road, and in the sky! We've appreciated being able to be back among friends, family and festival-goers.

Like back to school, it's time to look back at the real estate market and assess what's going on. Sales are taking a bit longer and buyers are taking more time to make decisions and arrange financing if needed which can be a bit difficult as interest rates increase. Of course, things are different in each community.

This newsletter includes some North Okanagan stats, my listings, the latest real estate news and a handy guide for buyers! If you're interested in what's happening in your community, give me a call. Not every community is the same and a market analysis for your property in today's market can help you decide if now is the right time to sell or buy. I am on weekly calls with realtors across the province, so I often get early insights into what's happening in other markets too.

As always, please call or text me at 250-307-7553 if I can be of assistance in buying property or listing your property for sale.
Randy Rauck
RR Signature
Randy Rauck The Flying Realtor® 250-307-7553
Okanagan Stats for August 2022
Residential real estate sales for the month of August in the region are showing signs of returning to stronger market activity, reports the Association of Interior REALTORS® (the Association).

A total of 1,205 residential unit sales were recorded across the Association region last month, an increase from 1,196 recorded in July 2022, but 32.6% below the number of units sold during the frenzied market of August 2021.

“After the unpredictable hot market through the majority of last year, it is nice to see some typical seasonal consumer behaviour returning as we head into this Fall,” says the Association of Interior REALTORS® President Lyndi Cruickshank, adding “this is a welcomed optimistic sign for a potential return of a balanced market to come, sooner than anticipated.”
My Current Listings - click each picture for more info
Recent News Stories
B.C. Housing Market stabilizing as activity below normal

Housing activity across the province remains well below normal but is showing signs of stabilizing” says BC provincial real estate association.

Read more
bc.ctvnews.ca
There is more at risk in Canada's housing downturn than...

The challenge for the Bank of Canada is to determine when to ease off before the economy. Prices have already fallen but let’s keep in mind that housing prices in Canada increased by about 27 per cent in 2021 alone.

Read more
financialpost.com
Resource for Buyers!
Home Buyers Road Map
Whether it's your first time buying a home in BC or it's been a few years, it's always worth reviewing the process and what you can expect from your real estate agent.
Randy Rauck
If you ever have any questions or need any advice, don't hesitate to touch base with us.

Sincerely,


Randy Rauck