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Regional real estate enjoys upswing
Real estate activity has experienced a boost in the North Okanagan.
In August, there were overall sales of 181 units, up 21.5 per cent from 149 units during the same month in 2012.
There were 165 residential sales last month, up 22.2 per cent from 135 last year. This was the strongest August since 2007 (226).
“Mirroring the upward trend in home buying activity and steady year-over-year increase in sales throughout the province since March, total residential unit sales for the Okanagan-Shuswap during August showed the best numbers for the month since 2007,” says Karen Singbeil, Okanagan Mainline Real Estate Board president.
“While some segments in our board area are seeing a turnaround in consumer demand compared to last year at this time, the current unit sales are merely back to the 10-year average showing moderate activity after several slow years. Overall market conditions are still stabilizing. Relatively weak economic conditions globally continue to be a bit of a drag on any upward momentum.”