Despite regional variations, home sales across the province returned to a historic average level for January, according to the British Columbia Real Estate Association.
Sales have slowed in the Vancouver housing market due in part to policy initiatives such as the foreign buyers tax and tighter credit regulations for first time home buyer, but the BCREA reports that sales on Vancouver Island and in the Okanagan are trending above average.
All told, 4,487 homes were sold in British Columbia in January, 2017, according to the BCREA’s figures, down from 5,831 sales the previous year, a 23 per cent drop.
