Home foreclosures are on the rise in B.C.'s Central Okanagan in recent months, but local real estate agents disagree about who might be losing their homes.
There are more than 170 court-ordered sale properties on the market in the Central Okanagan, more than 10 times more than three years ago.
Real estate agent Jason Neumann says according to his estimates, in the last 30 days alone 60 new foreclosures were put on the market, and he calls it a disturbing trend.
Neumann is worried the number of foreclosures will bring the overall market down, hurting anyone who wants to sell their home.
Elton Ash, the vice-president of Remax Realty in Western Canada, says most of the foreclosed properties are from people who were trying to flip homes during the hot market a few years back.
"People weren't able to achieve their goals in doing this and so they quit making payments," he said.
"The market in the Okanagan has really come to a standstill on that speculative investment front, and that is really what has been a major portion of the court-ordered sale thing that has increased so dramatically."