Kirsten Mason, Author at Kamloops Real Estate Blog

Canada Mortgage and Housing Corp. Expects Steady Housing Market in 2015

November 1, 2014 Kirsten Mason National Real Estate News

Canada Mortgage and Housing Corp. Expects Steady Housing Market in 2015. This article was written by the Canadian Press on October 30th, 2014.

OTTAWA – The Canada Mortgage and Housing Corp. says it expects housing starts in 2015 to be about the same as they were this year, and in line with economic and demographic trends.

The national housing agency says “some moderation is expected” in 2016.

The CMHC says that on an annual basis, it expects housing starts to range between 186,300 and 191,700 units in 2014, with a point forecast of 189,000 units.

Next year, the agency says it expects housing starts to range between 172,800 and 204,000 units, with a point forecast of 189,500 units.

In 2016, the CMHC says it expects housing starts to range between 168,000 and 205,800 units, with a point forecast of 187,100 units.

The agency says it expects Multiple Listings Service sales to range between 467,400 and 482,000 units in 2014, with a point forecast of 476,100 units.

Next year, it says it expects MLS sales to range between 457,300 and 507,300 units, with a point forecast to 482,500 units.

The CMHC says the average MLS price in 2014 is expected to be between $401,600 and $405,400, with a point forecast of $404,800.

Next year, the agency says it expects the average MLS price to be between $403,600 and $417,800, with a point forecast of $410,600, while in 2016 the average MLS price is forecast to be between $407,300 and $424,500, with a point forecast of $417,300.

Home Sales Continue on Upward Trend in September, BC Real Estate Association

October 26, 2014 Kirsten Mason Kamloops Real Estate Statistics

Home Sales Continue on Upward Trend in September, BC Real Estate Association. Vancouver, BC – October 15, 2014. The British Columbia Real Estate Association (BCREA) reports that a total of 7,636 residential sales were recorded by the Multiple Listing Service® (MLS®) in September, up 17.5 per cent from September 2013. Total sales dollar volume was $4.4 billion, an increase of 25.8 per cent compared to a year ago. The average MLS® residential price in the province rose to $574,641, up 7.1 per cent from the same month last year.

MLS Residential Home Sales BC September 2014

click to enlarge

“Consumer demand remains robust in most BC regions,” said Cameron Muir, BCREA Chief Economist. “More homes traded hands last month in BC than any September since 2009, while the Okanagan had its most robust September in nine years.”

“Population growth, low interest rates and strengthening economic conditions continue to be supportive of housing demand,” added Muir.

Year-to-date, BC residential sales dollar volume was up 23.2 per cent to $37 billion, compared to the same period last year. Residential unit sales were up 16 per cent to 65,353 units, while the average MLS® residential price was up 6.2 per cent at $565,655.

Multi-family Developments On Rise in Kamloops

October 25, 2014 Kirsten Mason Kamloops Real Estate News

This article appeared on Infotel.ca on October 24th, 2014 and was written by Jennifer Stahn.

KAMLOOPS – Requests to build more than 90 housing units were before council this week as developers look to move forward on projects around the city.

Projects for the industrial area of McGill Road, on Tranquille Road in Brocklehurst, downtown Battle Street and Qu’Appelle Boulevard in Juniper Ridge were all up for discussion Tuesday.

Council agreed to send the McGill Road project, which includes 14 residential apartment units situated in a commercial and industrial complex across from the new Telus Data Centre, and a 20-unit duplex development on Tranquille Road close to the airport to public hearing.

“This is our first development of this nature in our city,” Development Director Marvin Kwiatkowski says of the McGill complex, adding it would be different than the caretaker units that already exist in some industrial areas.

An 18-unit rental complex for 801 Battle St. got another look following an appeal by the developers earlier this month. Council agreed at the time to send it back to a public hearing, set for November, and Tuesday council got a preview of the new plans.

A 40-unit complex set for Juniper Ridge was also before council as the developers looked for a development permit, a necessary step before the project can move forward.

At the end of August the number of multi-family building permits so far this year were significantly below 2013 with only 125. In 2013 a total of 312 multi-family units were issued building permits.