Category Archives: Kamloops Real Estate Statistics

BC Housing Demand Forecast to be Strongest Since 2007, BCREA 2015 Second Quarter Housing Forecast

Vancouver, BC – June 1, 2015. The British Columbia Real Estate Association (BCREA) released its 2015 Second Quarter Housing Forecast today.

“More robust economic growth, strong consumer confidence and rock-bottom mortgage interest rates are expected to push housing demand this year to its highest level since 2007,” said Cameron Muir, BCREA Chief Economist.

MLS Residential Sales June 2015Multiple Listing Service® (MLS®) residential sales in British Columbia are forecast to rise 12.1 per cent to 94,300 units this year, before edging back 2.9 per cent to 91,600 units in 2016. The ten-year average is 83,600 unit sales. A record 106,300 MLS® residential sales were recorded in 2005.

Stronger consumer demand combined with fewer homes available for sale is forecast to push the average MLS® residential sales price in the province up 7.4 per cent to $610,500 this year. Modest upward pressure on mortgage interest and rising new home completions are expected to ease pressure on home prices in 2016. The average MLS® residential sales price is forecast to increase by 1.7 per cent to $621,000 in 2016.

Hottest April for Home Sales in a Decade, BCREA

Vancouver, BC – May 14, 2015. The British Columbia Real Estate Association (BCREA) reports that a total of 9,952 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in May, up 28.7 per cent from the same month last year. Total sales dollar volume was $6.3 billion, a 45.5 per cent increase in comparison to the previous year. The average MLS® residential price in the province rose to $634,744, a 13 per cent increase since last May.

“Last month was the strongest April for home sales in a decade,” said Cameron Muir, BCREA Chief Economist. “The elevated level of buying activity this spring is now expected to push 2015 home sales to their highest level since 2007.”

MLS Residential Sales May 2015

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“Consumers are taking full advantage of rock bottom interest rates and are demonstrating significant confidence in the housing market,” added Muir. “However, dwindling inventories combined with competition for detached homes in the province`s large urban markets is pushing home prices higher.”

During the first four months of 2015, BC residential sales dollar volume rose 37.1 per cent to $19 billion, when compared with the same period in 2014. Residential unit sales increased by 24.5 per cent to 30,091 units, while the average MLS® residential price rose 10.1 per cent to $631,860.

Kamloops Experiences Increase in Housing Starts, Kamloops BC Now

This article appeared in the KamloopsBCNow.com on May 8th, 2015 and was written by Wendy McLeod.

April turned out to be a good month for housing starts in Kamloops.

Figures last month came in above year-earlier figures, according to the Canada Mortgage and Housing Corporation (CMHC).

A reported 59 units were started in April compared to just 38 units during the same month one year ago.

When broken down, 47 of the new housing starts were single-detached residences while 12 were multiples housing. That compares to 36 single-detached homes in 2014 and two multiples.

So far this year total housing starts sit at 111 which are lower when compared to the same time period of 2014 with 153 starts.

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BC Home Sales Post Strongest March in Eight Years, BCREA

Vancouver, BC – April 16, 2015. The British Columbia Real Estate Association (BCREA) reports that a total of 9,101 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in March, up 37.6 per cent from the same month last year. Total sales dollar volume was $5.8 billion, an increase of 57.1 per cent compared to a year ago. The average MLS® residential price in the province rose to $641,799, up 14.1 per cent from the same month last year.

MLS Residential Sales April 2015

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“BC home sales climbed significantly in March,” said Cameron Muir, BCREA Chief Economist. “More homes traded hands last month than any March since 2007. On a seasonally adjusted basis, March posted the most home sales of any month since December of 2009.”

“Rock bottom interest rates and rising consumer confidence have strengthened housing markets in most regions of the province, added Muir. “Many board areas are now exhibiting sellers’ market conditions with home prices advancing well above the overall rate of inflation.”

During the first quarter, BC residential sales dollar volume was up 33.2 per cent to $12.7 billion, compared to the same period last year. Residential unit sales were up 22.5 per cent to 20,139 units, while the average MLS® residential price was up 8.7 per cent at $630,435.

Kamloops District Real Estate Associations Statistics For March 2015 and First Quarter

Kamloops District Real Estate Associations Statistics For the First Quarter of 2015 and for March 2015. Click image to enlarge.

Comparative analysis by property type March 2015 Kamloops Real Estate Statistics

Kamloops Real Estate Comparative analysis by property type March 2015

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MLS Activity March 2015 Kamloops Real Estate Statistics

Kamloops Real Estate MLS Activity March 2015

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Sales by subarea First Quarter 2015 Kamloops Real Estate Statistics

Kamloops Real Estate Sales by subarea First Quarter 2015

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Sales by subarea March 2015 Kamloops Real Estate Statistics

Kamloops Real Estate Sales by subarea March 2015

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