The North is expected to lead the province in housing market growth over the coming year.
The BC Real Estate Association is forecasting a 4.1% rise in the number of Northern home sales in 2012 and a 3.5% rise next year, leading growth in the province along with the Okanagan.
Chief Economist Cameron Muir says it's the result of Northern B.C. managing the global recession surprisingly well.
"Through increased diversification in a large city such as Prince George it certainly helps that economy through the ebbs and flows of the business cycle, but also as a result of the growing commodity demand from a global perspective," said Muir.
The Real Estate Association predicts slight increases in home prices over the next two years in the North, while most areas of the province are expected to see a slight drop.
Last year, the average home sale price in the North was just over $219,000, less than half the provincial average.
From: HQPrince George.com
Friday, January 27, 2012 - 12:29 PM
By Jeff Sargeant
Prince George, B.C.
