Northern BC home sales were ahead of their 10-year average in June after 476 unit sales were made according to the BC Real Estate Association.
That’s a year-over-year spike of 11.7% when compared to the same time last year.
Economist, Amit Sidhu told Vista Radio our region has weathered the economic chaos just fine.
“Ever since all of this uncertainty got introduced in the United States, the north has remained by and large the the most resilient region when it comes to sales activity. June was more of the same story as we had an 11.7% increased when compared to June of 2024 with 476 unit sales.”
“More affordable areas such as the northern region have continued to remain really resistant and we don’t expect that to change very much because the rate environments are really steady and prospective buyers who have entered the market continue to do so.”
He added while the local economy is going through some challenges, the housing market remains in good shape.
“We don’t really see any signs or caution for this to slow down. There are some worries about how the northern economy is performing as we have seen some job losses and downward trends in economic growth relative to the headline provincial numbers.”
The average price for a home in the north is $475,268 – a 5% jump from 12 months earlier.
In Prince George, the average selling price of detached homes was $531,595.
The British Columbia Real Estate Association reports 7,162 residential unit sales were recorded last month, up 1.3 per cent from June 2024.
The average residential price in BC last month was down 4.2 per cent at $954,065 compared to $995,614 in June 2024.
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