The weakened economy is being blamed for lower tax revenue and a rising provincial government deficit and now we hear the housing market next year will be slow.
An analyst with Canada Mortgage and Housing Claude Gautreau is predicting new home construction will be tepid next year and it won’t be the best time to be selling a home in Saint John, Fredericton or Moncton.
Gautreau expects a turnaround to start happening in 2014. He says there’s no reason to be overly pessimistic because New Brunswick experienced non-stop growth in housing from 2000 to 2007 and 2008 so we’re now in the down part of an historical cycle where supply and demand are getting more in line.
Housing In Province To Remain Sluggish Next Year
