What You Need To Know About The Current Halifax Market
We have seen a significant change in the market over the last few months and right now Halifax is currently in a different phase of a seller’s market compared to the start of the year. Between the rise in interest rates and the increase in the number of properties listed (about 4x more than at the start of the year), we are not seeing the same frenzy from buyers for each listing. There are significantly fewer showings, and fewer offers per property and the amount at or over the asking price has dropped by almost 45%
According to the Toronto Star, provinces that experienced the largest gains in housing prices during the pandemic will see the sharpest corrections post-pandemic, including the Maritime provinces and areas surrounding Toronto, Vancouver and Montreal. To read the full article, click here.
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