The housing market, like most markets, is cyclical.

These cycles can be greatly influenced by a number of factors, including interest rates, economic conditions and consumer confidence, which can create a shortage or surplus in housing.

A seller’s market happens when there’s a shortage in housing or more potential buyers than homes. A buyer’s market, on the other hand, occurs when there is a surplus in housing or more homes for sale than buyers. A balanced market happens when there is the same number of homes for sale as there are buyers.

STOP PRESS: January 2021 - It's a sellers market RIGHT NOW

Seller’s market at-a-glance

• More buyers than homes for sale
• Prices tend to be higher because of increased demand
• Homes sell quickly

What will Kamloops Real Estate do in 2021? Is it time to sell or buy your Kamloops real estate?

Read what the BC Real Estate Association thinks and the stats for 2020

Fourth Quarter – November 2020

The COVID-19 pandemic and associated recession have impacted housing markets in unexpected and unpredictable ways. Despite what may be the worst recession in BC history, the housing market had a record fall season and prices are rapidly rising as pent-up demand floods into an under-supplied market.
As that pent-up demand from the loss of a spring season fades, sales will likely slow from their current pace, but activity is expected to remain strong as record-low mortgage rates and a recovering economy continue to drive sales.

The average Canadian

The B.C. Real Estate Association's latest housing forecast was released Tuesday and shows that while sales in 2020 did fall to "historic lows" in April, they have since rebounded to pre-pandemic levels and even puts the year on track to outdo 2019 sales.

Among the industries still grappling with the impacts of COVID-19 this year, the B.C. housing market is not one of them.

The Canadian real estate market dipped in April this year, amid the lockdowns and economic impacts brought about by COVID-19. Although the pandemic stopped what was predicted to be a strong spring 2020 market, transactions started to pick up around May and June.

The B.C. Real Estate Association’s latest housing forecast was released Tuesday and shows that while sales in 2020

Things You Should Know Before You Sign an Agreement

Buying or selling real estate in Kamloops its best to get a great Realtor.

Smart consumers will interview several potential real estate agents before they settle on which one they want to work with, and good agents are selective about their clients, too. Just as you're sizing up a good fit, the real estate agent will likely be interviewing you as well. Be wary of agents who don't ask you questions and probe for your motivation. 

The interview stage of the relationship is important for everyone involved. You can interview the agent over the phone, or get together at their office for the first meeting. Even a top-producing agent will be prepared to meet you at your home to help you make your

National home sales shot up in June, with prices also climbing steadily, according to June data released by the Canadian Real Estate Association (CREA).

Transactions were up about 15.2%, while the average property price was up 6.5% from June 2019 to $539,000. Excluding the country’s most expensive markets, Toronto and Vancouver, the average price falls to $432,000.

“While June’s housing numbers were mostly back at normal levels, we are obviously not back to normal at this point,” said Shaun Cathcart, CREA’s senior economist. “I guess the bigger picture is one of cautious optimism. The market has recovered much faster than many would have thought, but what happens later this year remains a big question mark. That said, daily tracking suggests that

Buying a New Home Subject to the Sale of your Old Home

Selling the home that you live in and purchasing a new property with the proceeds can be a tricky affair. You need to get your timing exactly correct. You should also try and get the best possible price for your existing property and pay the minimum possible for your new home.

There is an option that Home Buyers may have when buying their new home, called a subject to sale. This subject allows Home Buyers to purchase their new home, subject to their current home selling by a certain date. The simplest reason for doing this is to line up the sales of these properties for financing and moving day reasons – it gives the family a chance to move out of their old house and into their new house without

Hiring the right person to sell your home is critical to ensure that you encounter as few roadblocks as possible during the sale process and earn a good price for your house.

So you’ve taken that job offer in another city, or perhaps you’ve simply outgrown your current home. You spent time personalizing and making the home yours and chances are, you remember the day you bought your property, signed all your documents and got your keys.

Depending on the circumstances, it can be an emotional time for someone to sell their home, but the time has come to put the property on the market. So the question is… how to choose a Realtor to sell my home? Not only is it the home itself that sells the property but choosing the right listing agent to get the job

When selling a house, pricing it correctly is one of the most important steps.

If the house is priced too high, it can linger on the market for months without any chance of selling. Even worse, if the price is too low, it will certainly sell, but the seller could be leaving tens of thousands of dollars on the table.

As the homeowner, you play a vital role in preparing your home for the market, determining your asking price, striking the deal, and handing over the role of ownership.

There are two methods that most people use to figure out the price of their home; a comparative market analysis (CMA), and an appraisal. A CMA is prepared by a real estate agent and can come either before or after the agent is hired. An appraisal is done by a licensed

Your Comprehensive Cost List for Selling

If you’re thinking about selling your home, you’ve most likely thought about the cost of selling a house in BC and what that calculates to exactly. This article helps to break down the cost of selling a home so that they can estimate what your take away profit will be after everything.

Home Preparation and Staging

You only get one chance to make a first impression, and in real estate first impressions are everything. In a hot market, like we have in BC, there are many buyers that only get to see a home once at an open house before they put an offer on it. Many buyers are seeing 10-12 homes on average per showing day, which means you have to stand out from the crowd. Sprucing up the home before you take

Home inspections are a huge part of buying and selling a home.

While in most cases a home inspection is optional, it’s highly recommended by experts so you can be aware of the home’s condition and potential problems. One of the most common pitfalls new home buyers experience are issues with the home they didn’t know about but could have been fixed prior to closing. Remember, if you have an inspection before purchasing a house, the issues are the seller’s, but if not, the buyer, you are responsible.

One of the most common subjects to a real estate transaction is the home inspection. An inspector’s report is often the deciding factor to move forward with a purchase and can be used to renegotiate the sale price or allow sellers to make repairs. It can