Okanagan real estate
The Okanagan is bucking the provincial and national trends of softening house sales and prices amid tough new mortgage rules.
British Columbia as a whole was the hardest hit with an 18 per cent plunge in homes sales in August to 5,300, due mostly to sagging activity in metropolitan Vancouver.
"August was the first full month under stricter mortgage rules that took effect July 9 and softening in sales is hardly a surprise," said Bank of Montreal economist Robert Kavcic.
A Canadian Real Estate Association report shows home sales in August nationally were down 5.8 per cent compared to the same month last year.
Overall, sales in 20 of the 26 communities surveyed were down.
But they were not down in the Valley
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