The number of MLS® sales reported in New Brunswick declined 24% last month in comparison November of 2007.The area hardest hit was Moncton (-35%), followed by Saint John (-24%) and Fredericton (-18%).
Even though the Greater Moncton area experienced a 35% decline in the number of MLS® sales last month, this pales in comparison to higher priced areas such as Greater Vancouver where MLS® sales of existing homes fell 70% from November 2007.
Fewer buyers and more active listings signal a buyer's market. Aggressive marketing techniques will be needed to attract buyers in this market.
Buyers who have the undivided loyalty of their own agent (buyer's agent) will have a distinct advantage in this market.
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