Housing market in a lull with western Labrador mining slowdown

The slumping price of iron ore is making it tougher to sell a home in western Labrador.

The region is still feeling the impact of the closure of Wabush Mines and recent layoffs at the Iron Ore Company of Canada.

Lois Milley, a real estate agent in the area, said that back in 2010 when the iron ore operation was in full swing, the region was experiencing a big boom.

She said that it was an incredible time to sell a house in the area.

"Things were pretty hot and heavy for a while," she said. "You could list a house and sell it within days."

However, she said now things have changed, but she doesn't see doom and gloom in the region's future.

"The market has softened most definitely. That's to be expected anyway," she said.

"Houses are selling, we're still listing homes, I'm working on a couple here today. It's slower maybe, but it's still moving."

Milley said she expects the housing market to bounce back once the price of iron ore steadies out.