Momentum in B.C.’s buoyant real estatemarket is coming from outside Vancouver, especially in the Fraser Valley and the Okanagan, as buyers continue to seek detached homes.
“Normally, we see kind of a seasonal slowing,” said chief economist Brendon Ogmundson of the B.C. Real Estate Association.
Detached home sales have continued rising for months during the pandemic because buyers want more space to work from home or their own yard.
“We’re seeing a lot of the record this month driven not by (Metro) Vancouve,” said Ogmundson, “A lot of the strength has been in markets outside.”
The number of home sales in B.C. recorded by the Multiple Listing Service in November posted a 42 per cent increase over the same month last year.