By Matt Fetinko

PG housing market not facing struggles major centres are

Jun 24, 2020 | 4:51 PM

PRINCE GEORGE — It will take about three years for the housing market in major Canadian centres to go back to normal, according to a new report by the Canada Mortgage and Housing Corporation. But in Prince George it is a different story.

While major centres have seen sales and construction drop-off in the housing market and prices will likely fall too. All this because of secondary and tertiary effects of COVID-19 such as lower immigration and less mobility, as well as an overhang of buildings under construction

Prince George and the surrounding area was doing quite well before the pandemic. In fact regardless of COVID, PG is in the midst of one of the keenest sellers market in 20 years.

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The big question is will that continue? Or could we see a change? Larger centres are projected to take up to three years to balance their housing markets according to the CMHC. People in the know here, however, believe it will remain stable with no major peaks or valleys in prices.