The Olympics

There is a lot of discussion around how the Olympics will or are affecting Real Estate in British Columbia.
There is no question that it is certainly having an impact, most assuredly in the Lower Mainland and to some extent in other areas outside. In the Okanagan there is definately a slow down on the number of listings and volumes of sales as it would appear people are putting their thoughts of purchases on hold until after the Games are over.
By the middle of March we predict an increase in activity with pent up demand, as much of the industry will have been on hold since November. As the weather begins to change in March people will begin thinking again about the Okanagan in full bloom and will want to continue to explore their lifestyle changes or their plans for that vacation home.
We are advising Sellers to begin looking at listing there home now to be ready for the upsurge in market interest and Buyers to look seriously now at properties they may be interested in as prices may begin to rise with an increase in activity.
While we all hope for increased interest from the people who have travelled to the Olympics from other spots on the globe that may not have a measurable impact for some time to come.
Meanwhile...Good Luck to all our athletes. Make Canada proud!