HRM housing market dips over last year
Some say they have been waiting as long as 14 months without so much as an offer
The housing market in Halifax and Dartmouth has taken a dip over last year, and realtors say many houses are staying on the market longer before selling.
The housing market in the Halifax Regional Municipality skyrocketed after the October 2011 shipbuilding announcement, but it seems to have come back down to earth.
Some homeowners told CBC News they have been waiting as long as 14 months, without so much as an offer.
Realtors can't say exactly why buyers aren't biting, but some like Margot Aldrich say, sellers need to be realistic about their expectations.
"In the last two years, you could get really cheeky with your asking price. You can't do that anymore, you have to list very realistically," she said.
"What's important for sellers to realize is that buyers are walking calculators. They're very well informed, they're very educated about the market, they really know what they're looking at and they really know the lay of the land in terms of asking prices. So it's very important to list very realistically, price-wise."
Trends across the country, however, tell a different story in other parts of Canada.Statistics released Monday from the Canadian Real Estate Association showed that housing sales were up in most major cities.