Corrected 6 October 2026. The first version of this post quoted absorption of "3.0 to 3.5 months", new listings "up 8%", days on market, typical negotiating spreads, and 5-year fixed rates of 5.1%–5.4%. None of those could be traced to a published source, and most were wrong: AIR's figures work out to about 5.5 months of inventory, and new listings fell in May. It also said the Bank of Canada held at a "May meeting" (the decision was on 29 April) and anticipated a July rate cut that didn't come. This version uses AIR's May 2026 release, published on 3 June, the day after this post first went up, and the Bank of Canada's own rate data.
This is a monthly check-in on the Kamloops market, part of a running series that tracks the numbers as part of a public BC Interior real estate learning journey. I'm not a realtor; I'm working toward a licence and doing the homework in public.
The May 2026 numbers
| AIR, Kamloops and District | May 2026 | Change from May 2025 |
|---|---|---|
| Residential sales | 250 | +7.3% |
| New listings | 525 | −13.4% |
| Active listings | 1,380 | −3.5% |
| Single-family benchmark | $671,600 | −0.4% |
| Townhome benchmark | $508,100 | −3.1% |
| Condo benchmark | $378,900 | +0.6% |
Sales picked up from April's 217, while new listings eased from April's 544. That combination tightened the market slightly. The sales-to-active ratio was about 18.1% (250 ÷ 1,380), up from 16.5% in April, which works out to roughly 5.5 months of inventory.
By the usual BC rule of thumb (Greater Vancouver REALTORS® describes downward price pressure below about 12% and upward pressure above about 20%), that's still balanced, but toward the seller's end of the band.
What the inventory picture actually means
Fewer new listings than last spring doesn't mean there's nothing to buy. There were 1,380 active listings in May, only 3.5% below a year earlier. What it does mean is that this spring hasn't produced the flood of new supply some buyers were waiting for.
AIR's association-wide release made the same point for the whole Interior: new listings were down 13.3% on the year across the region, and inventory "had limited opportunity to build despite a steady flow of new listings". Well-priced homes are getting absorbed.
For a buyer with specific criteria — a basement suite for rental income, a particular neighbourhood near TRU or Royal Inland Hospital, or a lot that allows future densification — that means being ready to move when the right one appears, rather than expecting the selection to keep growing.
The interest rate picture
The Bank of Canada held its policy rate at 2.25% on 29 April 2026, unchanged since October 2025. The next decision is on 10 June.
The Bank's own lending data put the average rate on new uninsured 5-year-plus fixed mortgages at 4.30% in May 2026. That's the right figure to use for a rental purchase with 20% down. Insured mortgages, for owner-occupiers putting down less than 20%, averaged 3.96%. Those are averages across chartered banks, so your own quote will depend on your profile.
I'm not going to guess at the next decision. Rates have been flat for seven months, and a plan that only works if they fall isn't a plan.
What to watch this month
Two things are worth watching if you're buying. First, the gap between asking price and sale price in your price range, which a realtor can pull from sold data: it tells you how much room there is to negotiate. Second, how quickly the spring's new listings go pending. If the pace slows, buyers are getting more selective, and that creates room to negotiate conditions.
One thing worth tracking yourself: properties that come back on the market after a failed subject removal. Those are worth a second look. The original buyers often had a legitimate reason to walk — financing, inspection — but the property itself can still be sound.
The broader BC Interior context
Kamloops doesn't move in isolation. Across the whole AIR region, May sales were down 1.4% on the year and active listings down 6.8%, so the Interior as a whole is running slightly tighter on supply than last spring. Merritt continues to offer lower entry prices with a smaller, less diversified economy — I wrote more about that comparison in an earlier post.
Looking ahead
Buyers who want to avoid competing in a tightening summer market should be positioning now — getting pre-approved, narrowing criteria, and being ready to move when the right property comes on.
I'll update these numbers again in early July, when AIR publishes June's figures. If you're tracking the market alongside me, AIR's monthly Kamloops release is the primary source I use.
Sources: AIR — Kamloops market, May 2026 (3 June 2026) · AIR — Interior market, May 2026 (3 June 2026) · Bank of Canada — policy interest rate · Bank of Canada — interest rates for new lending by chartered banks · Greater Vancouver REALTORS® — sales-to-active thresholds
Written by Jagatjeet, as part of a public BC Interior real estate learning journey. Published 2 June 2026. Corrected 6 October 2026. Updated 7 October 2026. Jagatjeet is working toward a BC real estate licence and is not a licensed realtor. Nothing here is financial, legal or tax advice.