FINGERS CROSSED!
The Bank of Canada is preparing for their January announcement, and I know that we are all hopeful to see a decrease in interest rates.
The BOC has insinuated that interest rates will begin to decrease this year, as we come closer to our target inflation rate.
We have seen high interprovincial migration rates, particularily since COVID 19, that has created an influx of first time home buyers in Kelowna, the Okanagan, and British Columbia as a whole. Between interest rates and the average purchase price of a home, purchasing property in 2023 was almost unafforable. Heading into 2024, with a decrease in interest rates, we are hoping to see affordability return for the millions of Buyers patiently waiting on the sidelines.
If you plan to purchase a home in 2024, reach out to me and I would be happy to help you get started on your journey!
