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House sales on the rise in HRM

Housing sales in HRM spiked this spring according to numbers released yesterday by the Nova Scotia Association of Realtors.

Housing sales in HRM spiked this spring according to numbers released yesterday by the Nova Scotia Association of Realtors.

During the period between March and May, 1,925 single-family residential homes were sold in Halifax and Dartmouth — a 16.9 per cent increase over the same period last year.

According to NSAR president Karen Edwards, the increase in sales reflects increased consumer confidence that the global recession may finally be receding.

“People are becoming much more comfortable after last year’s economic situation ... people are becoming more comfortable and going on with their lives,” she said. “As people are more comfortable, they buy.”

Provincially, 3,079 single-family homes were sold between March and May — an increase of 16.2 per cent.

The average price of homes in HRM also increased by 4.7 per cent to $251,085 — the highest average in the province.

Edwards remains optimistic the trends will continue as the year progresses.

“I’m optimistic. Halifax has held its own, and Nova Scotia for the most part has held its own, so I’m looking forward to the next half of the year,” she said.

Data provided in NSAR’s reports is provided on a three month basis and includes only single family residential listings.

 
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