Real estate market hits eight-year high

The Okanagan Mainline Real Estate Board says sales activity in June was the strongest in eight years.

  • Jul. 14, 2015 7:00 p.m.

The Okanagan Mainline Real Estate Board says sales activity in June was the strongest in eight years.

According to OMREB, sales overall were up five per cent from the same month last year and the housing market has shown an eight per cent improvement year-to-date compared to the same six-month period in 2014. The real estate board credited the B.C. economy, which it says is currently the best performing in the country with population growth, reinvigorated consumer confidence and pent-up demand key drivers of the real estate market as it bounces back to 2007 sales levels in most areas of the province.

“Strong consumer demand in the Okanagan-Shuswap has pushed home sales to an eight-year high and reduced days to sell to 72 days on average compared to 94 last year at this time,” said Christopher Miller, OMREB president.

 

 

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Rezoning proposed for Salmon Arm farmland to allow for future development

Portion of parcel in agricultural land reserve will be sold to large-scale farming operation

Salmon Arm truck stop task force on hold

Mayor waiting on highway construction and related negotiations

Collision at Salmon Arm intersection

Emergency crews responding

Shuswap firefighter ascends Vancouver high rise for fundraiser

Michael Esau climbed more than 700 steps in full gear for B.C. Lung Association

Campaign promotes Syilx/Okanagan language and culture

To support initiative, Nsylixcen t-shirts and water bottles are being distributed across Okanagan

VIDEO: Wet’suwet’en supporters vow to keep protesting at B.C. legislature

Supporters say they will continue ongoing action to hold government accountable

VIDEO: Province promotes ‘lifting each other up’ on 13th annual Pink Shirt Day

Students, MLAs, community members gathered at B.C. Parliament Buildings Wednesday

Prepare for new coronavirus like an emergency, health minister advises

About 81,000 people around the world have now become ill with COVID-19

B.C. residents in Wet’suwet’en territory have right to police presence: Public Safety Minister

Nevertheless, Bill Blair said officials remain ‘very anxious’ for the barricades to come down

Winnipeg police investigating graffiti on RCMP and other buildings

Manitoba Justice Minister Cliff Cullen denounced the vandalism

Use of new trailer donated to Salmon Arm horse rescue society

Freedom’s Gate Equine Rescue Society grateful for support of Kamloops business

B.C. seniors’ watchdog calls for better oversight after recent problems at Retirement Concepts care homes

‘There is no financial incentive right now to be a good operator’ - Isobel Mackenzie

Volunteers share amazing memories of Vancouver Olympic games

A decade ago this month, Vancouver hosted the 2010 Winter Olympics. Approximately… Continue reading

Trucking company fined $175K for Kootenay creek fuel spill

Decision handed down last Friday in Nelson court

Most Read