Halifax housing average sold price May 2013
Halifax sale prices remained high again in May but failed to surpass last years value by $227. Thats pretty marginal given the health of the market last year was in a bit better condition then we are experiencing now.
Halifax housing sales May 2013
The first peak sales month of the year had a poor showing in May. 97 less transactions then last year and 327 lower then our highest report from 2007. With June being the other peak month one can only hope that our market makes a solid summer sales recovery.
Halifax housing inventory May 2013
Almost hit the top! Inventory climbed substantially again for the fourth consecutive month and only missed breaking the all time high by 76 units. June has an annual trend of tapering off after May but with a continuing sales slump this statistic may very well continue to rise.
So it would appear that we haven't seen the end of our sales slump yet and with the spring market coming to a close it looks like we may not see a full recovery this year. With talks of mortgage interest hikes on the way it will be interesting to see the impact of that decision not only to our market, but the labouring markets across the country. Usually there is a flurry of activity when rate hikes are looming as people push to find a property before the inevitable change. As these announcements are sometimes used as a market stimulus It will be interesting to see just how much that sways the June market and buyers decisions. Smoke and mirrors or the end of record low rates? Thanks for stopping by!
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Jeremiah Wallace, CD
Jeremiah has been involved with many aspects of the Real Estate industry for over fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
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