My devoted fans, welcome back! 

Here we go again with another attempt at a blog post. This time around, I am focusing on the rumor of a catastrophic market decline.  

As many of you know, sources are portraying the housing market as volatile. Sure, it has slowed down a little bit, but guess what? I think that is a bunch of horse........ I should say that I can’t speak to the rest of the country. I am merely referring to the Halifax market.   

The fear of increasing interest rates is on a lot of people's minds, and who can blame them.  Inflation is real right now. You can see it everywhere you go, whether it be groceries or gas. Prices are up all around us. Regarding the interest rates of mortgages, I would have to say that yes, they are up. But they are only getting back to where they used to be before the pandemic. We must face it. We won’t see the low interest rates again that we have been dealing with the last two years for a long, long time.  

For home buyers alike, this is great news. Either you have been looking to purchase your first home and got tired of the past market (you know what it was like), or just starting to get into the process. You now have more of a voice than before. You as the buyer are getting to think about the home you want to buy, or moving onto the next home - as opposed to viewing a home and basically deciding if you want to offer right then and there. 

In some areas, we are seeing homes stay on the market a little longer than usual. On my end, I’m seeing the decrease of “offer dates”, and more and more price changes. I agree that it’s cooling off a little bit, but nothing like people are saying. Halifax has so much going for it. We have three hospitals, 3 Universities, and ports. With the immigration not only from outside the country but also within, I don’t think Halifax will see a major decrease in prices. Our issue here is inventory. Until they start building more homes, the demand for living will still be strong in a vastly growing city.  

What do you think of the current situation of the housing market? I’m interested in knowing. Feel free to reach out to me, and we could discuss. I love to talk (it’s waaaaay better than writing). 

 
Alright, that’s enough reading. I won’t keep you any longer!