January North Okanagan Real Estate Report 2024
Learn More
Do you want content like this delivered to your inbox?

High Points & Low Points

Chris gives a recap of what happened regarding  North Okanagan real estate in this 10 year recap (Part 2)


Buying or Selling? 10 Year North Okanagan Recap Part 2

Chris Holm & Associates

We want you to know that our team is unique in the way we chose to approach real estate here in the North Okanagan.  We are a true real estate co...

We want you to know that our team is unique in the way we chose to approach real estate here in the North Okanagan.  We are a true real estate co...

Mar 1 3 minutes read

Welcome Back!

The real estate market is always changing and the current scenario is no exception. By June 2022, the market began to shift with an increase in inventory and a decrease in home sales compared to the previous two years. And by December 2022, the market had fully shifted, giving buyers some advantage with almost 8 months of supply.  The slowdown can be attributed to various factors, including increasing interest rates, high property prices and a limited number of buyers for the homes that are on the market.

Interest rates play an important component of a housing market’s health. When rates rise, it becomes more expensive for potential buyers to borrow money from banks. As a result, many people lose some buying power making it difficult to purchase homes in higher priced markets. In addition, home prices have started to outpace what potential buyers are willing to spend on properties.

The outlook for 2023 remains somewhat uncertain as experts struggle over whether real estate sales will pick back up or remain stagnant going forward. Home sellers should keep close tabs on how interest rates affect borrowing costs while potential buyers should watch out for favorable deals that come up during this uncertain time period. There will still be opportunities but both buyers & sellers looking at entering into the market should do plenty of research before diving in, head first, in order to ensure success going forward into 2023 and beyond.

If you would like to learn more, you will want to sign up for our weekly email newsletter today (link in Bio) and get all the latest updates on the real estate market and properties in the North Okanagan!

If you have any questions or opinions, we would love to see them in the comments below. Our goal is to provide you with as much information as possible so you can make a well informed decision regarding your real estate.

Selling Your Home? 

Get your home's value - our custom reports include accurate and up to date information.

Get Home Value
We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies. More info

Terms of Use

This website is operated by Chris Holm Associates/Chris Holm, REALTOR®, a Salesperson who is a member of The Canadian Real Estate Association (CREA). The content on this website is owned or controlled by CREA. By accessing this website, the user agrees to be bound by these terms of use as amended from time to time, and agrees that these terms of use constitute a binding contract between the user, Chris Holm Associates/Chris Holm, REALTOR®, and CREA.


The content on this website is protected by copyright and other laws, and is intended solely for the private, non-commercial use by individuals. Any other reproduction, distribution or use of the content, in whole or in part, is specifically prohibited. Prohibited uses include commercial use, “screen scraping”, “database scraping”, and any other activity intended to collect, store, reorganize or manipulate the content of this website.


REALTOR®, REALTORS®, and the REALTOR® logo are certification marks that are owned by REALTOR® Canada Inc. and licensed exclusively to The Canadian Real Estate Association (CREA). These certification marks identify real estate professionals who are members of CREA and who must abide by CREA’s By-Laws, Rules, and the REALTOR® Code. The MLS® trademark and the MLS® logo are owned by CREA and identify the professional real estate services provided by members of CREA.

Liability and Warranty Disclaimer

The information contained on this website is based in whole or in part on information that is provided by members of CREA, who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members, and assumes no responsibility for its completeness or accuracy.


Chris Holm Associates/Chris Holm, REALTOR® may at any time amend these Terms of Use by updating this posting. All users of this site are bound by these amendments should they wish to continue accessing the website, and should therefore periodically visit this page to review any and all such amendments.