MLS Listings, News & Statistics
The Association of Interior Realtors has released the latest Statistics for October 2022. Click on the image below to enlarge or PDF documents included in the links below.
PDF: Analysis of MLS Activity – October 2022
PDF: Comparative Analysis by Property Type – October 2022
PDF: Residential Sales by Sub-Area – October 2022
PDF: Residential Sales by Sub-Area (Out of Town)- October 2022
PDF: Market Summary – October 2022
The Association of Interior Realtors has released the Kamloops and District market overview for the 3rd Quarter of 2022. There is a lot of good information in their report that shows what the Kamloops market is doing. While it is very quiet out there due to the ongoing interest rate hikes, inflation and overall financial uncertainty, the prices of homes in the area are still higher year over year. This slow down won’t go on forever and what we saw over the past year or so was very unsustainable. It is nice now, Buyers have time to think about their decisions. Unfortunately Sellers are having to find a bit more patience with the process however they do eventually sell as there are still buyers out shopping.
The PDF document with the full report is included below.
Canadian Housing Starts (September 2022) – October 18, 2022
Canadian housing starts rose by 29.2k (10.8 per cent) to 299.6k units in September at a seasonally-adjusted annual rate (SAAR). Comparing year-over-year, starts were up from September of 2021 (19.3 per cent). Single-detached housing starts fell 1 per cent to 76.5k, while multi-family and others rose 16 per cent to 223.1k (SAAR).
In British Columbia, starts increased by 10.9 per cent in September, rising to 54.3k units SAAR in all areas of the province. In areas in the province with 10,000 or more residents, single-detached starts rose 18 per cent m/m to 8k units while multi-family starts rose 10 per cent to 42.1k units. Starts in the province were 50 per cent above the levels from September 2021. Starts were up by 8.8k in Vancouver and 1.3k in Abbotsford, but were down by 4.5k in Kelowna and 1.2k in Victoria. The 6-month moving average trend rose 7.7 per cent to 50.5k in BC in September.
Click here to visit to BCREA’s website. To view other statistics for the Kamloops and BC real estate market click here.
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Vancouver, BC – October 12, 2022. The British Columbia Real Estate Association (BCREA) reports that a total of 4,977 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in September 2022, a decrease of 45.8 per cent from September 2021. The average MLS® residential price in BC was $927,119, a 1.7 per cent increase from $912,008 recorded in September 2021. Total sales dollar volume was $4.6 billion, a 44.9 per cent decline from the same time last year.
“Mortgage qualifying continues to be a significant hurdle for many potential buyers as interest rates rise,” said BCREA Chief Economist Brendon Ogmundson. “In addition, many trends that drove demand in smaller markets, such as remote work and the quest for affordable space, have faded in prominence. As a result, we see a stronger pullback in markets outside of major metropolitan areas.”
Year-to-date, BC residential sales dollar volume was down 24.2 per cent from the same period in 2021 to $68.5 billion. Residential unit sales were down 31.8 per cent to 67,547 units, while the average MLS® residential price was up 11.3 per cent to $1.01 million.
Click here to visit to BCREA’s website. To view other statistics for the Kamloops and BC real estate market click here.
If you want to be kept informed on Kamloops Real Estate, News and more visit our Facebook Page.
To search for Kamloops real estate and homes for sale click here.