Halifax market far from overheated say local realtors

The housing market in Halifax is a buyers’ market with a glut of new homes being listed.

The Chronicle Herald reports that there were 10,944 homes listed in April while sales volume was 4,068.

Real estate agent Ed Power says that despite the low sales-to-listings ratio there are some encouraging signs. In particular, he has noticed an increase in first-time buyers in the market.

There has also been an increase in homes bought by military personnel in Halifax.

Local real estate expert Al Demings also sees positive signs, but warns that the apartment sector could be developing into a bubble that could burst one day as low sales have seen condo developers switch to rentals. 

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