Well, well, well, here we are in June. What a Spring market it has been so far. We are starting to see a flurry of listings hitting the market (finally!), and what a beautiful season to view them. I wanted to pop on my blog to give my millions of fans and followers (I might be off by a few 100,000 or so) a snippet of how the Halifax market is doing.  

As I was saying, we are starting to see more and more homes hit the market. This is fantastic news for buyers of all kinds. The trend that I'm starting to see is that homes are staying on the market longer than they have been the past two years. This means that you as the buyer have a fantastic opportunity to go view a home, and actually have time to think about it.  

Since April we have seen an increase of 14.8% listings hit the market. Also, we have finally broken into the 1.1 months of inventory mark. This means that if nothing new was to list, it would take 1.1 months to sell all the remaining properties. This is great news for buyers, as the tables are turning in your favor (celebrating dance emoji).  

 
I would have to speculate that the shift in the market shift is due to buyer confidence and increasing interest rates. Unfortunately, the increase of the rates is inevitable. I am no mortgage specialist, but I would say that the rates will continue to increase for the foreseeable future. This is not the end of the world! It just means that your budget won’t be where you thought it would be. All we need to do is pivot your search and criteria.  

 
The even better news about the cooling of the market and being a buyer, is that now you have a voice! You have more inventory to look at and might not be in multiple offer situation (you’re more in the driver’s seat). See buyers, there is light at the end of the tunnel. The numbers of the market are slowly heading in your favor. My advice to you would be (if you are a new home buyer reading this), to find a mortage specialist and get a pre-approval. This will not only benefit you when it comes time to submit an offer, but the beauty of it is that you will know what you are looking at, interest rate wise. Then you can plan and budget!  

I could spend days ranting and raving about the current market. I won’t bore you with that. Although, if you are interested in buying or selling in this market. Give me a call! That way you could hear all my opinions.  

Until next time.