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The housing market in Kamloops is expected to remain stable over the next two years, according to a forecast by the Canada Mortgage and Housing Corporation.
Housing sales for Kamloops are expected to be up to 1,750 in 2015, and will increase to 1,780 in 2016 and 1,800 in 2017.
The average price of a home in the Tournament Capital is not expected to greatly increase. The price is expected to be $404,000 in 2015, increasing to $420,000 in 2017.
The vacancy rate of homes in Kamloops is expected to remain steady as well. It is forecasted to be a 3.7 vacancy rate in 2015, down from 3.9 in 2014, and is expected to return to 3.9 in 2016. The vacancy rate in Kamloops is, and is forecast to continue to be, above the national average.
Housing starts are anticipated to slightly decrease going from 518 new homes under construction in 2014 down to 470 in 2017. The new construction to date in 2015 is 9.2 per cent less than it was at this date in 2014 in Kamloops.