August home sales across the north continued to chug along according to the BC Real Estate Association.
406 single-family homes came off the market last month, an increase of five when compared to 12 months earlier.
Economist, Amrit Sidhu told Vista Radio our region is in pretty good shape despite the economic chaos, which was been initiated by US President Donald Trump.
“Year-to-date sales in the north are still 2.8% above that 2024 mark. And even since the onset of tariffs and uncertainty, the north has pretty much remained on par with their 10-year-average of 4,100 sales and they have even seen an uptick in sales over the past couple of months.”
“What we saw at the start of the year is more affordable years like the north and the Kootenays remained quite resistant to broader pressures and then as some of that uncertainty began to fade out of the market and thing began to be priced into the economy more expensive areas like those in the interior and the Vancouver Island Board region began to recover along with Victoria shortly after.”
He added a a fall surge in home sales is anticipated with the kids back in school and the summer winding down.
“Last year especially, the three strongest months were October, November and December on a seasonally-adjusted basis and coupled with the fact that we think the Bank of Canada will announce a cut next week on the back of some economic data. We think there should be a swing in economic sales activity.”
The average house price in the north during August was $451,452 – up two percent from the previous year.
In Prince George, that price is roughly 90-grand higher at $542,246.
The BCREA reported 5,961 residential unit sales in August, up 0.5 per cent from the same month last year.
The average residential price in BC in August was down 1.4 per cent at $926,335 compared to $939,376 12 months earlier.
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