http://www.bclocalnews.com/bc_north/thenorthernview/news/119271759.html#
Summary:
On April 5, 2011, the BC Northern Real Estate Board released their first quarter results. After a close examination, it seems that the property sales have decreased compared to the first three months of 2010. By the end of March, they managed to sell 25 properties worth $4.3 million. But in 2011, they sold 35 properties for $6.3 million dollars. Not only did they sell less property than they did in 2010, the average selling price dropped from $207 893, to $171 909. As a result, they currently have 240 properties ready for sale, 9 more than last year.
Connection:
In the first quarter of 2011, real estate companies in Prince Rupert managed to sell 25 properties for a worth of $4.3 million, compared to last year, their sales dropped by 10 properties. A decrease in sales would mean that there would be a less inflow of cash from the operating activities because the operating activities section typically includes the cash flows that result directly from the sale of goods and services to customers. In addition to that, the average selling price of the homes this year in Prince Rupert has dropped by about twenty- thousand dollars, which means there would be decrease in their net income, consequently, they earned less money.
Reflection:
The real estate companies need to invest more money on advertising. They need to show the world the pros of living in Prince Rupert. This was how Canada attracted so many people back in the 1800s and 1900s. Personally, I would hate moving to Prince Rupert right now because I know nothing about it. All I know is that Prince Rupert is somewhere north of Vancouver, and not a lot of people live there. A factor that may have contributed to more people buying properties last year is because the economy improved since 2009. People wanted to buy houses before prices go up again. Another factor that could have contributed to the decrease in sales is because of the unstable weather we endured in the first two months. I remember where one day it was about nine degrees, and the next day, it was snowing and below zero.
