There have been stories of multi million dollar homes selling in Nanaimo, an increase in off-shore buyers and people from Vancouver wanting to buy homes in the Harbour City.
President elect of the Vancouver Island Real Estate Board, Janice Stromar says those stories are really getting overblown.
Stromar says most of the home sales in Nanaimo are renters moving to homes or homeowners already in the market upgrading.
She says inventory is down 22 per cent and the number of offers being written are up 50 per cent.
