We haven’t seen it in Kamloops yet, but the latest outlook from the B.C Real Estate Association is predicting a further slowing for the housing market.
B.C.R.E.A Economist, Cameron Muir, expecting higher interest rates and weaker economic growth to be a factor.
“Well when we look at rules, particularly around tougher mortgage qualification rules, they impact everyone. It doesn’t matter where you live, and so when we look at the impacts on the market, it’s going to cover every corner of the province.”
The number of ‘sold’ signs, province wide, expected to dip 8.5 % this year, after a 7.5 % decline last year.
Muir also expecting more modest price gains, anticipating this year’s 6 % increase to slow to 4 % in 2019.