VERNON – There’s still plenty of optimism in the Okanagan real estate industry, despite a sudden slump in housing sales. From Peachland to Revelstoke, single-family home sales were down substantially in September compared to the same time last year.
Numbers from the Okanagan Mainline Real Estate Board (OMREB) show single-family home sales were down in September compared to the same month last year. The biggest change was in the central Okanagan where single-family home sales dropped more than 14 per cent year over year. Single-family home sales in the north Okanagan and Shuswap were also down, 8.7 per cent and 7.8 per cent respectively.
Realtor Chris Docksteader paints a similar picture.
Local realtors suggest questions about the future of the economy or the result of the federal election may also be playing a role.
Going forward OMREB says it’s not seeing any evidence that September’s numbers are the start of a trend. It’s still expecting to see strong sales this fall.
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