Prince George, B.C.- The BC Real Estate Association is predicting a slide of MLS home sales of 22% for Prince George, and 28% this year throughout the province.  The average price for a home in Prince George is expected to be 7% lower in 2009.

 

The BCREA says reduced consumer confidence is one of the reasons,  brought on by the sharp increase in fuel prices and the situation has been compounded by the global economic crisis.

 

The Association predicts slower growth in B.C., slipping from 3.1% in 2007 to 1.4% this year but there may be some gains in the last half of 2009, enough to boost growth to 1.6%

 

The BCREA says the forest sector will continue to be weak until the US housing market improves. The value of solid wood product exports was down 30 per cent year-to-date through August. A recovery is not expected until late 2009 at the earliest.

 

 

In the stats below the top section refers to the Northern Real Estate Board:  ( courtesy  BCREA)