Okanagan Achieves Home Sales Record in October
Kelowna, BC - The Okanagan Mainline Real Estate Board (OMREB) reports that a new record for MLS® residential sales for the month of October have been reached. A total of 653 residential sales were posted last month, up 3.8% from the previous year, smashing the previous October record of 648 sold units set in 2007.
BC’s strong performing economy, rock bottom mortgage interest rates and robust population growth have provided a solid foundation for the housing market. While the fallout from the collapse of oil prices has negatively impacted some BC communities, most of the Okanagan has experienced an increase in housing demand this year.