Active Listings Increase: Active listings reached 1,140 by the end of March 2025, a 7.2% year-over-year increase.
Balanced Market: Inventory growth reflects slower buyer demand, not a surge in new listings. The market remains balanced, with a sales-to-new listings ratio around 50%.
Mortgage Rates Trending Down: Mortgage rates are above historic lows but have trended downward over the past 12 months, offering relief to new buyers and those renewing in 2025.
Cautious Central Bank: The Bank of Canada is unlikely to return to ultra-low pandemic rates, remaining cautious after the post-COVID inflation spike (peaking at 8.1% in June 2022).
Fixed Mortgage Rate Uncertainty: Fixed mortgage rates, tied to bond yields, remain subject to global uncertainty and may not decline in the short term.
Low US Tariff Vulnerability: Kamloops is relatively insulated from potential negative effects of new U.S. tariffs (2nd lowest vulnerability among Canadian cities).
Stable Local Economy: Local economic anchors, including two major mines and Kamloops’ position as a transportation hub, provide stability.
Affordability Advantage: Kamloops continues to offer some of the best affordability among major BC cities, attracting residents and investors.
Potential for Delayed Spring Activity: Market conditions suggest a potential for a delayed spring activity increase, with market hesitation possibly creating a backlog of buyers.
Market Direction Dependent on Economy: The future market direction will depend on the broader economic environment and the return of buyer confidence.