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Kelowna  

Floods dampen real estate

The real estate market in the Okanagan has gone slightly soggy, as ongoing flood concerns in the area appear to be driving some prospective buyers away.

Bill Hubbard, a Vernon-based real estate broker, says homes have begun to stay on the market for longer, and fewer of them are selling.

He says the slowdown is unusual because, until a few weeks ago, the red-hot real estate market had been seeing homes sell at a blistering pace, with bidding wars and over-priced offers common.

For Hubbard's perspective on the phenomenon, as well as how it's affecting Okanagan residents who are buying or selling homes, read the full story on Castanet's sister business news website, Okanagan Edge.



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