Northern BC home sales off to blazing beginning, similar results from 2016 expected
Residential home sales in northern BC are off to a hot start in 2017.
190 unit sales were recorded compared to 171 in January 2016.
BC Real Estate Association Chief Economist Cameron Muir says the region has avoided some of the headaches that are plaguing the southern half of the province.
“When we look at the north, the region is up 11% in January compared to the same time a year ago and the north has not had the significant run-up that most of the markets in the south and is more reflective of the north’s more stability they are exhibiting.”
Despite the hot start, the region should follow the same pattern from years past. “I expect the north to post similar results to what we saw in 2016 with some challenges around global commodity demand and that’s going to have an impact on some of the economic activity in the north.”
The average home price for the region is $261,000.