The New Year is within sight. If your New Year's resolution is to make a housing move in 2017, now's the time to start working on it!
Current homeowners need to know that because of a lack of housing inventory in many areas, their home may sell faster and perhaps for more money than they expect. But as all real estate is local, you'll want to get the latest updates on sales activity in your immediate area to get the best understanding of what to expect for your own real estate activities.
"National sales and price trends continue to be heavily influenced by a handful of places in Ontario and British Columbia and mask significant variations in local housing market trends and conditions across Canada," notes Canadian Real Estate Association (CREA) President Cliff Iverson.
CREA Chief Economist Gregory Klump gave an example from this summer's real estate activity in western Canada: "Home sales continued to trend lower while price gains further accelerated in the Lower Mainland of British Columbia." He added, "This suggests that sales are being reined in by a lack of inventory and a further deterioration in affordability." Successful real estate transactions require the steady guidance of an experienced real estate sales professional. Please call today so we can review your current housing situation in relation to your plans for 2017.