In August 2016, then premier Christy Clark and the finance minister of the day, Mike de Jong, introduced a 15 percent tax on foreign purchases of residential real estate in the Lower Mainland. That accelerated a slowdown in sales that had already been underway for months.

But a year later it appears that the housing market is nearly as hot as the weather.

The Real Estate Board of Greater Vancouver reported that home sales were up 22.3 percent last month from the figure recorded in August 2016.

Moreover, last month's sales total was 19.6 percent above the 10-year August sales average.

“First-time home buyers have led a surge this summer in demand in our condominium and townhome markets,” REBGV president Jill Oudil said in a news release. “Homes priced between $350,000 and $750,000 have been subject to intense competition and multiple offers across the region.”

The benchmark price for all residential properties in the REBGV's territory reached $1.03 million last month, which is 9.4 percent above the benchmark in August 2016.

The REBGV does not include White Rock, North Delta, Surrey, and Langley, which are all part of the Fraser Valley Real Estate Board.