The President of the Kamloops and District Real Estate Association (KADREA) says the number of home buyers from out of Kamloops has slowed down slightly.

Kamloops doesn’t have a speculation tax in place, and despite an increase in house prices here, Wendy Runge doesn’t think out-of-town buyers will ignore the city completely.

“I mean, we’re still quite affordable. There is a housing crisis here in Kamloops as far as there’s not enough rentals and things like that,” she said. “So investors are looking at those places in B.C. that are good places to invest.”

She says Kamloops has and will continue to be a good place to invest.

“That trickle has slowed down as the tap has been slowly turned off in Vancouver. So it will be very interesting to see as their market is turning around and pricing is being corrected and people are getting back in the market,” Runge added.

“Eventually our market seems to follow suit and so I hope those people will come back to Kamloops looking to spend some of their dollars here.”

The average single-family home price in Dec. 2019 was more than $485,000, a decline from the record $521,000 in Nov. 2019.