The average sale price for a single family home will be $258,000 for this year, Canada Mortgage and Housing Corporation is predicting in its second quarter housing market outlook, a 2.4 per cent increase over last year.
As well, unit sales should hit 1,125, a 3.2 per cent hike, according to the report, issued this week.
But something of a rebound from the first three months of the year will be needed for those numbers to bear out as there were 216 sales, 10 fewer than for the same period last year, at an average of $241,009, $695 less than for the first quarter of 2012.
As for 2014, CMHC is predicting 1,150 homes will exchange hands for an average $262,000.
Looking at starts on new homes, CMHC predicts work will have begun on 160 single-family homes by the end of 2013, the same as there were in 2012, and also sees 160 starts in 2014.
As of the end of May, construction had begun on 33 new single-family homes in and around the city, 14 fewer than by the same point last year.
Second quarter numbers from the B.C. Northern Real Estate Board should be out in early July.
