We are now well into the 2010 housing market is as I had projected we are have a very active spring. Housing prices for most, if not all of Nova Scotia are up over last year and are expected to remain in an upward trend throughout the rest of the year. Sales for the first part of the year are also up over last year and the time frame of selling a house is shorter this year. There is still a shortage of houses on the market.
There are two concerns that may affect our market in the second half of this year. The recent increase in the Provincial sales tax and the speculation of interest rates going up. The overall impact of these two issues is still unknown, however based on the best information we have available we do see these as having a negative impact on the housing market. If you are considering either buying or selling any time this year we suggest you call and discuss the full details of these concerns with us. We do have some strategies to reduce the impact on your home investment.