March 2009 - Declining Unit Sales Again? YES and NO!

Surprise!
The double digit percentage year over year decline in unit sales stopped in March.
Comparing MLS® unit sales recorded this March with last:

• Fredericton posted an 8% gain
• Moncton posted a 3.7 % decline
• Saint John posted a 7% decline

First quarter 2009 unit sales in New Brunswick are still down in the 15% range from 2008 due much lower unit sales in January and February. And first quarter 2009 unit sales are off 29% from the all time record high recorded in the first quarter of 2007.

Will March 2009 go down as a turning point in the New Brunswick real estate market? Stop back later in the year for the answer.