MLS Listings, News & Statistics
The Kamloops and District Real Estate Association has released the latest statistics for February 2011. Click on the image below to enlarge.
Kamloops Real Estate Comparative Analysis by Property Type February 2011
Kamloops Real Estate MLS Activity February 2011
Kamloops Real Estate Sales by Subarea February 2011
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To view all homes for sale in Kamloops click here.
This report was released by the British Columbia Real Estate Association on February 23rd, 2011.
Vancouver, BC – February 23, 2011. The British Columbia Real Estate Association (BCREA) released its Housing Forecast for the first quarter of 2011 today.
BC Multiple Listing Service® (MLS®) residential sales are forecast to increase 8 per cent from 74,640 units in 2010 to 80,900 units this year, and increase another 4 per cent to 83,950 units in 2012.
“British Columbia housing markets are returning to normalcy after two years of volatility,” said Cameron Muir, BCREA Chief Economist. “Employment and population growth will fuel consumer demand over the next two years. However, higher mortgage interest rates and tighter credit conditions for low equity home buyers will limit home sales to below the ten-year average of 87,600 units.”
“Total active residential listings in the province declined 14 per cent since last spring. However, the inventory of homes for sale is expected to edge higher as the number of new listings to the market advances during the first two quarters of 2011,” added Muir. “Regional market differences continue in the province, with Vancouver trending into a seller’s market, while the Okanagan, Kootenay and Kamloops markets trend from a buyer’s market toward balanced conditions.”
The average MLS® residential price is forecast to increase 2 per cent to $517,000 this year and remain relatively unchanged in 2012, albeit declining by 0.4 per cent to $515,400.
This article appeared on The Daily Commercial News and Construction Record on February 21st, 2011.
Canada’s national housing agency says the pace of new-home construction will stabilize in 2011 and 2012 after trending lower at the end of last year.
Canada Mortgage and Housing Corp. predicts between 157,000 and 192,000 new housing units will be built this year, with the number remaining virtually the same in 2012. In its first quarter housing market outlook, released Feb. 17 it said economic growth and lower unemployment will prop up the need for new homes.
“This, in conjunction with relatively low mortgage rates, will continue to support demand for new homes. Housing starts will remain in line with long-term demographic fundamentals over the course of 2011 and 2012,’’ Bob Dugan, chief economist for CMHC said.
Dugan said listing prices are expected to keep pace with increases in inflation.
The corporation said sales of existing homes should be in the range of 398,000 and 485,000 this year.
In its January figures, CMHC said Canada was on track to build 170,400 units of housing this year, about 10 per cent less than in 2010.
The housing market was unusually active in late 2009 and early 2010 due to a catch-up from the recessionary levels in late 2008 and early 2009 and historically low interest rates that kept the cost of borrowing low.
The real estate market kicked off last year on a tear as buyers rushed into the market in advance of higher interest rates, new mortgage rules and a new harmonized tax regime in two provinces.