As 2022 came to an end, residential real estate sales continue to soften through the month of December. 2022 started very strong but did see a shift as the BOC started its interest rate hike campaign...that shift has continued through the end of 2022 and will continue to do so into 2023. Interestingly the Kamloops and area inventory levels continue to grow, but sales activity is dropping, with some key Benchmark prices also dropping month over month.
“Looking to 2023, we anticipate inventory will continue to accumulate, as compared to recent years, with all signs pointing to more balanced conditions with buyers and sellers benefitting equally,” notes Lyndi Cruickshank, President of the Association of Interior Realtors.
Within the Kamloops and…
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