Prince George should continue to outpace the rest of Northern BC in 2017 according to BC Real Estate Association Chief Economist Cameron Muir.
“We’re going to see some modest increases in places like Prince George but overall, the sales, we’ll see the same kinds of headwinds that are going to continue to be in effect this year, which is due to lower global demand for commodities.”
Muir adds the local economy plays a major role in the city’s success. “In areas such as Prince George which, is far more diversified today than it ever has been has a lot of other segments of the local economy, which they can rely on and I think that is going to help Prince George with some modest increase in consumer demand this year.”
Unit sales dropped 3.4% in the region last year to the tune of 4,069 units.
The average price of a home in Northern BC is $263,000 while Prince George exceeds that mark at $300,000.