cheaprealty net

This graph says it all, comparing last May (HOT) with this year (not). Looking at the graph, sales volumes were much higher in the lower price ranges a year ago. This year, houses are not listing and selling in those same price ranges, maybe because specuvestors think their houses are worth much more after owning for a whole year - time enough for a profitable flip, right? Looking at the price brackets where sales were a year ago, is it any wonder the Okanagan real estate market is in a tailspin now? All the affordable properties are gone. Or have been delusionally listed way too high. Bring them back down for the second half of 2008 into 2009, and maybe the market could revive a bit.