New Home Sales Spike
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PRINCE GEORGE – The first quarter for new house sales in the city has seen a tremendous spike. According to Canada Mortgage and House, 37 new homes sold in the first quarter of 2017, while 137 were sold in the first four months of this year. And the CMHC says there’s a reason for that. A large apartment/condo project that was completed this February.
“So when you’re looking at those new home numbers, really what you’re seeing is the result of a good chunk of those apartment/condo units being pre-sold,” explains Taylor Pardy, CMHC Senior Marketing Analyst.
That is music to the ears of the City’s Economic Development branch.
“Historically we’ve had a hard time explaining to developers that pre-sales could work and that’s a big part of their decision-making process when deciding whether or not to build a large, multi-family development,” says Melissa Barcellos, Manager of Economic Development. “It helps them secure financing.”
