Saint John housing
Recently, the housing market in Saint John has been very stable. The Canada Mortgage and Housing Corporation (CMHC) says both home starts and home sales have fallen over the past two years, while prices have risen, albeit modestly. The average price of a home in Saint John is now just above $170,000. Realtors point to low mortgage rates as the main reason why prices have held up in the face of declining overall housing activity.
The CMHC expects home sales in Saint John to slow down in 2017 as the Canadian economy gains remain slow in the region and as falling commodity prices reduce employment.