A slowdown in the number of homes sold in the Okanagan.
The Okanagan Mainline Real Estate Board reports 24 percent fewer sales than at this time last year.
“We are generally quite busy this time of year and with continued upward pressure on the market due to a lack of inventory, sales activity is brisk,” says OMREB President Tanis Read.
Read notes that, while sales volume is down from this time last year, average pricing is 8% higher and
the average time it takes to sell a home was 73 days in June, consistent with May.
Buyers are families who already live in the region, with some influx from the Lower Mainland.
While Alberta residents are still buying, the numbers are declining since 2014.