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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Posted on Friday, January 29, 2010 07:58 AM in News by 250 News

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Comments

Posted by: He spoke on January 29 2010 9:00 AM

Wow, out of thin air.... 8%. Hmmmmm another wise words from the parasites of the housing industry.

Posted by: Andyfreeze on January 29 2010 9:48 AM

This is called marketing spin...also known as listening to the little voices in their self-serving heads!
Funny how they never discuss the real estate meltdown that will come when the interest rates begin to rise...and rise they will!
To these guys,there is NEVER a bad time to buy real estate and the market will rise for ever!
Not.

Posted by: Loki on January 29 2010 11:01 AM

They should get out of real estate and into selling what ever they are smoking.

Posted by: Loki on January 29 2010 1:11 PM

I would like to see a compilation of these rosy announcements over the last two (2) or three (3) years. It would be interesting to see how their prognostications have paned out.

It is no wonder that the comments are derisive and incredulous.

Posted by: Junco on January 29 2010 4:32 PM

Froot loops are going up 8% as well and bananas are going up 8 cents a pound. Coincidence? I think not.

Posted by: Mr. PG on January 30 2010 5:07 PM

What consumate rubbish!

House sales will not increase in Prince George this year. We have a declining population, fewer jobs, no incentives to move to Prince George, no leadership from the mayor and Council, tax increases on the way, and schools closing.