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Thursday, March 8, 2012

Local Real Estate Market More Stable


With spring just around the corner - a lot of people are thinking about buying or selling houses -- and -- a top real estate official is predicting a relatively stable market this year.
Greater Saint John Real Estate Board president Jason Stephen says after last year's roller coaster market -- things have settled down with interest rates remaining low and prices stabilizing - but - the inventory of homes on the market remains high.
So Stephen says that leaves the market tipped slightly in favour of buyers.
And he says the large inventory of homes for sale means it's taking longer to sell homes -- now an average of 120-days compared to between 60 to 90-days in the past.