Market Update

As the news media talk of market fluctuations and housing prices, they seem to trend towards bad news or good news with qualifiers that may imply adverse changes are likely to happen. Well an Ottawa Think Tank, the Conference Board, has said that the Canadian market is not positioned for a crash but in some markets there may be a downturn. This may happen in markets where new starts are exceeding demand or supply has driven prices up. Also the changes by Canada Mortgage Housing Corporation to increase their rates on 1 May has also heated up soe markets as people are looking to lock in before that date and this is driving up prices in some large markets.

For those who are living in the Annapolis Valley or are looking to move here, this news has minor bearing on this market area. The CMHC news will impact buyers and will cost them a little more in the long run, but a rush to buy is unlikely. Also here in the Valley we have had good news on the job front as Apple Valley Foods has announced investments by the company and governemnts that will enable them to double production, meaning an employment increase there and the local producers will be able to increase their supply to a local company instead of shipping it away. The life cycle extension of the Aurora aircraft will also provide for stability at 14 Wing and the resulting employment to provide services to military folks posted there. Also the expansion of the Michelin plant will also increase our working population and support the local services as well.

All in all, the real estate market in the Annapolis Valley will likely maintain the steady growth that has been enjoyed over the years and make this a very enjoyable place to live and call home.

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Randy Stevenson

Randy Stevenson

CENTURY 21 Acclaim Realty Limited
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