Real Estate sales strong to start 2016

By James Peters
February 1, 2016 - 5:43pm

KAMLOOPS — The Kamloops and district real estate market hit the ground running in 2016.

Real Estate Association President Cindy Crossley says January saw nine per cent more sales than the same month last year.

Crossley says there was a lot of activity in the low end of the market, and that makes her believe more people are purchasing investment properties.

"I was talking with our Provincial association, and they're still forecasting the Bank of Canada rate probably will not change throughout this year, and again that is only a forecast, with the mortgage rates being what they are, now is a really good time for those who are looking to try and look at something as a long term investment," said Crossley. 

Crossley notes inventory is down about 15 per cent, which is usually good news for sellers, but she says the market remains well-balanced for buyers as well.

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