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Real Estate

Real estate board does not see slow month as a trend

real estate

New figures show that the Medicine Hat housing market is still struggling to maintain upward momentum despite generally keeping pace with last year’s activity.

While strong numbers in May and June signalled to many the start of a busy summer, July’s sales figures showed a slowdown compared to last year.

According to local observers however, it’s not enough to see a trend developing.

“We looked at it and thought that maybe we were heavier in May and June, that cut off a bit in July, and now for August we’re already up 50 per cent from last year,” said Tim Seitz, president of the Medicine Hat Real Estate Board.

“How do you characterize that? It’s down but I don’t see it as a trend.”

Sales at the six-month mark of 2016, at June 30, had overtaken the previous year’s pace for the first time in the calendar year, with Seitz predicting positive figures into the fall.

In July however, both residential volume and value fell in the range of 20 per cent, compared to the same period one year earlier.

Paul

The author Paul