For the past three years, price growth in Halifax’s housing market has been modest. Realtors point to a sluggish economy and a steadily increasing number of active listings. Still, the average existing home price continued to edge higher in 2016, although it will probably rise less than the overall inflation rate.
On the whole, Halifax remains a buyer's market, even with interest rates near record lows. The Canada Mortgage and Housing Corporation (CMHC) expects this condition to persist well into 2017, with prices and sales remaining low until the economy is once again firing on all cylinders.