July 08, 2016 - 4:30 PM
KAMLOOPS - June 2016 stands out for local realtors for the highest number of homes sold in a single month in nine years.
With 351 homes sold in the area, more homes weee sold in last month since June 2007, local real estate association president Katherine Rutherford says in a press release. June follows several months of strong sales numbers.
“We’re on track for the best annual sales figure since 2007 and an average price increase somewhere in the neighbourhood of four to five per cent,” Rutherford says in the release.
The average price for a home in the region was $339,029 in June 2016, a rise of 6.6 per cent over June 2015. The year-to-date rise is currently 4.2 per cent over the first half of 2015.
Local realtor Brendan Shaw says it's been good for realtors and for clients who've been waiting a long time.
“The past few months have been record setting months for our office,” he says.
While the region hasn’t seen the same price spike as in Vancouver, Shaw says consumer confidence is very strong right now, with new investors and home buyers entering into the market at the same time as longtime buyers re-enter with new confidence. The confidence is bouyed by low interest rates. He also points to a general population increase in the province as a factor.
“People have been holding out for market like we’ve seen lately,” he says.
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