The new normal

Over the past weekend we saw a flurry of activity - but not of the selling type.  Price reductions are coming in fast and furious on re-sale housing, both single family and residential homes.  The peak selling time of spring/2013 led to record prices and it was inevitable that we would see a flattening of prices by year end.  Sellers willing to negotiate and be reasonable will sell.  Those holding out for peak prices may have to wait for the next upward bounce.  We are not talking big price drops here, and whatever the number is, it's still well above prices from 2 years ago.  Estevan is a strong, stable market with every reason to be optimistic - supply and demand will always rule - and although we may have a slight surplus in housing right now, that could change as quickly as the undersupply did.  So everyone, be patient and realistic and your property will sell.  It's all in the numbers and the numbers don't lie.

 

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