The President of the Kamloops and District Real Estate Association says there are options on the housing market for those looking to enter it for the first time.

Speaking on The Jeff Andreas Show, Wendy Runge says there is new inventory coming onto the market that is in the lower price point, which will be a good first step for those who can’t afford a single family dwelling as their first home. “I think that people for a little while there were skipping that step, but I think we’re going to see more of the townhouse and condo being a good option for the first time home buyer and say they live there three or four years and then they move up. About five years ago people were just skipping that altogether because it was so affordable.”

Runge says those townhouse and condo options will become more popular as the single family home price continues to go up. The average single family home price in Kamloops last month was $530,000. “I think we’re going to see those be in a little bit higher demand as the prices of the single family home go up. People are going to be turning towards a condo and townhouse as an option as a good first step.”

The city of Kamloops is also out with its stats for building permits that have been issued through the first two months of the year. Residential building was up quite a bit when comparing the early part of 2020 to the same time last year.

https://soundcloud.com/user-965676831/jeff-andreas-show-wendy-runge-mar-3