The market continued to stabilize during Q2, though the recovery remains gradual. The Kamloops and District region recorded 738 residential sales totaling roughly $456 million. This represents a 3.4% increase in sales volume compared to the same period last year, while total dollar volume remained flat. Although the market appears to have moved past its low point, activity remains well below the ten-year Q2 average of approximately 860 sales.
Buyers remain cautious and are taking longer to make decisions, with transactions requiring considerable negotiation. Properties remaining on the market for extended periods are drawing greater scrutiny, as buyers often interpret longer days on market as a sign of potential defects. Overall, the market is balanced, supported by a sales-to-new-listings ratio hovering around 50% since 2023. New listings totaled 1,641 in Q2 (down 3.1% year-over-year), while active listings at the end of June stood at 1,481 (down 1.1%). Seasonally adjusted supply has stabilized at just under six months of inventory.
Prices remain consistent with historical patterns of modest growth. The composite benchmark price reached $602,000 in June 2026, up 0.4% year-over-year but still approximately 6% below the mid-2022 peak.
Affordability continues to be the primary challenge. While Kamloops remains one of the more affordable major cities in southern British Columbia, detached homes remain out of reach for many. Mortgage payments on a median-priced detached home consumed roughly 43% of median household income in 2026. While this is down from the 60% peak in late 2023, it remains well above the long-term average of 29%.
Looking ahead, housing supply is a growing long-term concern. Kamloops is experiencing some of its lowest levels of single-family home construction in decades, with the number of detached homes under construction in May 2026 marking the second-lowest for any May since 1990. Driven by slower demand, high construction costs, and tighter margins, the region risks underbuilding the detached homes that buyers prefer.
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