Housing Sales Fluctuate

Dated: 01/14/2019

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Housing Sales Fluctuate

By Cheryl Jahn
January 11, 2019 - 3:44pmUpdated: January 11, 2019 - 5:42pm

PRINCE GEORGE - The Northern BC Real Estate Board has released the numbers for 2018 compared to the year before and house sales have fluctuated wildly. For instance, while Kitimat and Terrace saw huge jumps, 147% and 59% respectively, Prince George saw a decrease of 10%.

"The reasons for the dropping for the sales here in Prince George, I think, is a combination of the stress test, which came in at the end of last year," explains realtor Bob Quinlan. "And that has caused some tightening up. The sellers who were going for big dollars on their sales are now finding out that they have to adjust their prices a little bit in order to make that come into line."

He says there is also a lack of inventory right now of housing in a certain price range. As for the spikes to the west, Quinlan says that is 100 percent the result of the LNG Canada project.

The Board, though, expects Northern BC markets to perform better than their Southern markets in 2019, something Quinlan agrees with, again, because of LNG.

 

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Steven Axford

Steve Axford grew up in Victoria, BC and has always been active in his community. Steve is a Victoria Cougars Hockey Team alumni as well as a Victoria Shamrocks (intermediate) alumni. During his time....

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