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Buying & Selling in the PEI Real Estate Market

I came across this article today on CBC's website and was VERY surprised to hear that numbers are down from last year.  Again, as I mentioned in another blog post, I have to wonder about statistics.  Where are the numbers coming from and what exactly is driving the details?  I know we are busier this year than we were last year, and that is real, not based on statistics.  As always, my favorite question is WHY (my first grade teacher would agree as would my University professors AND my kids).  I always have to know WHY!  So I'm thinking, what is going on that we as an office of Mortgage Brokers would be busier this year than we were last year but yet the Real Estate Association are saying numbers are down.  Well, I guess if you consider that a Mortgage Broker has to do their job before the properties can actually close and be "counted" then that may make sense.  A typical closing period may be a month to two months, so if we as Mortgage Brokers were busier in February & March than we were last year, I can't wait to see the Real Estate Stats for sales in April & May!!  I am positive this is going to be a great year in the Real Estate Market here in PEI.



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