“There’s been very little focus on changing the way that things have been done,” Ruparell said. “Despite the fact that home values have doubled in Canada and that the percentage of commission has stayed the same, the actual experience to buy and own a home hasn’t evolved at all.”

A major reason for the surge in demand is historically low interest rates. Adding to this, the COVID-19 remote-work structure has turned homes into a catch-all of offices, schools, gyms and living spaces; the desire and ability to move from the city to the suburbs has increased; and what better time to expand living space than when you’re at home 95 per cent of the time? Paired with this increased demand, housing inventory has been historically low, with many British Columbians hesitant to list their homes due in part to pandemic-related concerns. For example, the number of listings in the interior and on Vancouver Island are 50 to 60 per cent lower than needed for a balanced market in the long-term.

Most foreigners are still barred from entering Canada but, as of Aug. 9, fully vaccinated U.S. citizens and permanent residents living in that country will be able to visit, and they won't have to quarantine.

The federal government said it plans to allow fully vaccinated travellers from all other countries to enter Canada and skip quarantine on Sept. 7.