All is not doom and gloom in HRM - My impression is that we are experiencing a balanced market, which is not necessarily a bad thing. It's amazing how things will self correct over time.
Our buyers have more options and are not feeling pressured into making a decision and our sellers are getting their price providing they are willing to wait a little longer to get it.
The agents that have been through this before are coping and planning better their marketing efforts. The key is educating our clients so they can make informed decisions about the buying and/or selling process.
Mortgage interest rates are stable and all indications are that they will stay that way. Again, the consumer has many more choices about where they will borrow money and the terms and conditions that best suite them.
Overall, it is a great time to sell, buy or invest in real estate.