One year ago, we wrote about what we saw coming in the Canadian housing market for 2025 — steady demand, tight inventory, and rising interest rates. Read more here. Now, we’re halfway through 2025, and while some predictions held true, others took an unexpected turn.
What’s Actually Happened So Far in 2025?
Interest rates continue to impact affordability across B.C., with many buyers in Kelowna and across the Okanagan region sitting on the sidelines during the first quarter. However, by the end of March, we saw a modest correction in home prices and a small surge in new listings — offering some long-awaited opportunities for first-time homebuyers and investors alike.
How the Market Is Shifting Now
We are now seeing quite a different market taking shape.
Buyers are coming back with more confidence. Local inventory in Kelowna has slightly increased, giving homeowners and new Canadians a better chance at finding the right property — without the intense bidding wars of previous years. More people are also exploring secondary suites, HELOCs, and smart tax strategies like the Smith Manoeuvre. Tools and programs through CMHC (such as mortgage loan insurance for buyers with less than 20% down) are helping make homeownership more accessible, especially for first-time buyers navigating today’s evolving market.
How Rampone-Marsh Mortgage Brokers Can Help
At Rampone-Marsh Mortgages, we work with accredited lenders to get you approved — even if you’ve been turned down by the bank. Whether you’re renewing, refinancing, or buying your first home in the Okanagan, we’re here to simplify the process and help you make smart mortgage decisions.See what’s changed in Kelowna’s housing market in 2025 and how Aaron and Lenny at Rampone-Marsh Mortgages can help you move forward. Call us today!
