B.C. recreational property sales continue to come off their pandemic-era highs, but rising interest rates are just one of several factors at play as the market seeks balance.
“There was a real frenzy in the pandemic years. It created a lot of froth in the market,” said Christopher Alexander, president of Re/Max Canada. “It’s really getting back to normal.”
The good news is that prices are holding steady even as sales continued to slide this year, underscoring the limited impact of rising interest rates.
“Sales are down pretty aggressively, but prices have stayed in pretty decent shape,” he said.
Within Western Canada, ski hill visitation is stabilizing as international tourists return but real estate sales at B.C. resorts such as Whistler, Big White in the Okanagan and Mount Washington