Home sales in Kamloops have had a slow start in 2026. Buyer activity was subdued as many were digesting the implications of the Cowichan ruling in Richmond, while others waited for a clearer outlook on interest rates. This hesitation led to the slowest first quarter of sales since 2015, with January posting a 10-year record low. In total, there were 444 residential sales in Q1 2026, a year-over-year decline of 7.9% in transactions and 6.9% in total value.
Despite this, activity picked up heading into spring, and March sales exceeded 2025 levels. The market appears to have regained its footing. While the Cowichan decision created initial uncertainty, it has not halted activity, as local buyers continue to drive the market.
Kamloops continues to see a gradual build-up in active listings, with 1,186 as of March 2026 (up 4.0% year-over-year). This is driven by a slower sales pace rather than a significant increase in new listings. Many sellers remain anchored to 2021 prices and are hesitant to list unless necessary. New listings have largely flattened, increasing by only 0.4% in Q1 2026 compared to last year. While financial pressure on households is evident, there has not been a dramatic spike in distressed sales; foreclosures and court-ordered listings still represent a small share of overall activity.
An important shift in the market is that rising inventory is providing buyers—particularly first-time homeowners—with more time and choice. Appropriately priced homes, especially in the $500,000–$750,000 range, continue to see strong demand and sell more quickly than other price points. While we are not seeing a return to a frenzied market, entry-level single-family homes still frequently attract backup or competing offers.
*Stats provided by the Association of Interior Realtors.
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