Year slow for home sales but better 2013 predicted (Good news for Kamloops)

While home sales are flat so far in 2012 and expected to stay that way for the remainder of the year, CMHC forecasts MLS sales will see double-digit increases next year.

Canada Mortgage and Housing Corp. released its fourth-quarter housing outlook report Monday.

About 1,360 homes sold to the end of September, the same number as the first nine months of 2011. That stable trend is expected to continue through the rest of the year.

But the agency expects resales to jump by 11.8 per cent in 2013 based on expected economic and job gains — the strongest projected increase of major B.C. markets.

Average home prices are up about three per cent over the same period last year. That compares to the Vancouver market, where MLS prices are down seven per cent on average.

CMHC also expects new home construction in Kamloops to jump eight per cent in 2013, primarily from single-family homes.





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