Source: Global News —
The Okanagan single-family home market appears to be feeling the impact of higher interest rates.
The Association of Interior Realtors released data for January, showing that benchmark home prices were down in January throughout the region.
Prices dropped between five and nearly eight per cent compared to January 2022.
“Last year when a client could afford a purchase of let’s say $380,000, at an income of $80,000 for their year, this year it is only about $340,000 so it is a big difference,” said Deb White, owner of White House Mortgages in Vernon.
