Northern BC is still on pace to record 41-hundred housing sales in 2025 according to the second-quarter forecast from the BC Real Estate Association .
That would amount to a 2% year-over-year spike when compared to 2024.
BC Real Estate Association Chief Economist, Brendon Ogmundson told Vista Radio the region continues to be resilient despite some recent challenges.
“It’s one of the few markets across the province where sales were up 10% last year and are expected to go up another 2% this year. One caveat is that we are starting to see some real weakness in the northern economy, the labour market has weakened a fair amount.”
Due to tariffs and some market uncertainty, the province is predicted to see a 1% decline in home sales this year. 73,650 sales are anticipated for 2025 – down from the 74,479 tallied in 2024.
“We are expecting a much more normal year with sales back to kind of long-run average levels. That is basically the pace we had been on in 2024 – at least in January of 2025. Instead, because of all the uncertainty, caused by tariff policy and how it is changing week to week and hour to hour, I think that has really hurt the confidence sales are starting to slow.”
“It’s hard to know when all of the uncertainty is going to end,” added Ogmundson.
According to its report, over five percent of Northern BC’s workforce is exposed to US Trade tariffs – that figure is a little lower in Prince George at 3.9%.
Provincial resale inventory is likely to average above 40-thousand listings for the first time in over a decade. In addition, inventory of unsold new units is also at a decade high.
For a full link to the report, click here.
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