As the holiday season approaches less people are spending time looking at new homes and more time christmas shopping. We have now entered the usual winter slowdown which usually lasts until springtime. However buyers and sellers should not give up. This is the time when sellers are usually more motivated and flexible with prices, on the flip side sellers have a better chance of selling as there is alot less competition on the market. There has been a lot of talk about the real estate bubble “bursting”, as we see the US prices spiraling downwards. It is possible but not probable that this will happen in the Okanagan for at least a few more years and probably not as dramatically as our neighbors to the South. We have already begun to see the market slowdown a little with less listings and sales each month. This does not mean the market is going down, it’s just slowly leveling, instead of doubling the value of your home in a year or two we are back at a more reasonable appreciation rate. The market is dependent on numerous factors such as mortgage rates, the economy, the loonie, the stock market, the list goes on and on. Always remember that each area has its own market and not all of markets are equal.