November definitely had some very attractive results from what we usually expect this time of year. The stablization of our economy is reflected in our real estate production. Listings have stopped the -17% freefall decline and only posted a -3% for the month of November. Hopefully, this trend will continue in December. Interesting that our decline in listings is still quite consistant year over year at -6% for November. I expect we will finish the year at an average loss of listing production in the -7% or -8% which is better than the -10% I predicted at the first of the Year.
November sales is another heartening story. If you look at November production for 2008 you will see that we are up a whopping 36% in volume sales. As attractive as this appears it is really only up .6% over 2007 production. However, November shows our market is in fact quite consistant year over year at a 4% increase from last Novembr. But just so we keep everything in perspective compared to November 2007 we posted -12% decline in November 2009. November 2009 shows a dollar volume of $353,606,918 year to date and November 2007 shows a dollar volume of $363,137,474.
Will folks, as much as we are in a very gradual decline from the boom year of 2007, we are still doing a fantastic business. With continued expectation that the economy is, in fact, improving globally I believe we can be quite assured of a secure future in the Fredericton real estate profession for the year 2010. The City reported that there are several huge projects being constructed as I write this and there are many more on the drafting tables all over the City for 2010. This has to lighten our step and help us feel most joyfull as we approach Christmas 2009.
So again buyers you still have lots of time to get your loved ones that very special dream home for Christmas. With interest rates staying quite stable at 3.83% and expected to do so for years to come,now is the best time ever to make the plunge. Don't think about it, like Nike says; Just do it! Just imagine, after all the Xmas presents are opened you take your family for an extra special drive up the street to their new home. I know I did it one year just for fun. Wow, what a thrill!!! God bless. Merry Christmas and a Happy, Happy New Year.
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