Inventory drops, prices for homes rise in Kamloops

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KAMLOOPS - The number of homes on the market in Kamloops has dropped significantly since last year, but house prices are continuing to rise.

According to new numbers from the Kamloops and District Real Estate Association, there are 29 per cent fewer homes on the market than at the same time last year.

But sales per unit last month were up two per cent compared to July 2016, and up five per cent to date compared to last year.

Acting vice president for the Kamloops and District Real Estate Association Doren Quinton says in a news release that the median price of homes sold in Kamloops last month was $420,000 compared to $413,900 during July of last year.

"The majority of sales continue to be in the ($320,000) to ($400,000) range but we continue to see a higher than normal number of homes selling above ($600,000)," Quinton says.

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