Real Estate Sales Expected to Go Up by 8% This Year

Friday, January 29, 2010 07:58 AM

Prince  George, B.C.- The British Columbia Real Estate Association (BCREA) released its Housing Forecast Update for the first quarter of 2010 today.

BC Multiple Listing Service® (MLS®) residential sales in the Northern region, which includes Prince George, are expected to increase by 8 % this year, before slowing to a further 3% in growth in 2011.

The forecast also predicts the average price of a home in the Northern Real estate region will increase by 2% this year, to $216,000, and a further 3% in 2011 to $222 thousand.

Higher home prices and rising mortgage interest rates will provide a constraint on home sales next year.

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