2011 Local Real Estate Market off to Good Start….
March 7, 2011
March school break usually marks the transition into our Spring market. This year is different. The February timing of the Canada Games held in Halifax this year has focused ‘Spring Market Enthusiasm’ early. Open house activity, new listings and sales are picking up pace. Mortgage rates are also supporting the confidence. Most Halifax and HRM prices are still very affordable by national standards. And though the average national consumer debt has recently been reported as being at an all time high, demographic shifting is fuelling the market… especially amongst baby boomers and first time home buyers. Some properties are being sold to cash in & enjoy the benefits of lifelong retirement planning and investments, others to consolidate debt, move up or downsize. Rents are also changing and in many cases climbing with the recent change in Nova Scotia tenancy laws granting immediate tenure. More incentive to own versus rent…
Best Regards, Michele… Halifax Real Estate Agent/Associate Broker
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