Residential real estate sales across the Okanagan slid in the month of July, so much so that the Association of Interior Realtors is reporting pre-pandemic level activity across the region.
Nearly 1,200 residential unit sales were finalized across the Interior region last month — a 33.3 per cent drop compared to the number of units sold during July of last year.
“The market topped in March and so we’ve seen it correcting since then,” Royal LePage realtor, Steve Wright said.
“We were selling 75 per cent of our single-family homes last year and this year we’re selling 25 per cent of our single-family homes. So, it’s the market correcting and single-family homes seem to be the one that are doing the most correcting right now.”