The Nexus Blog:
Right time for buyers and good news for sellers
A story written for Canadian Mortgage Professional (CMP) this months is headlined: “Some Canadian homebuyers have best purchasing opportunity in decades”. The facts behind it are that a cooler market and declining interest rates are creating an ideal opportunity for buyers.
This thinking is echoed by Real Estate Wire, with an article encouraging buyers to “make a move while the market is slow.”
At the same time, there’s additional potentially good news for sellers. CMP’s online magazine points out that in the current Canada-U.S. climate, Canadian investors are pulling out of the American market, which could “funnel millions of dollars back into the Canadian housing market. Caution alert: Said investors could be looking at a third country elsewhere in the world.
A report revealed that 81 per cent of Canadians prefer to keep their investments at home, and 34 per cent of them believe that strategy is permanent. One estimate is that of 100 of the 7,100 Canadians who bought U.S. property last year changed their minds, that could mean $80 million in “lost transaction volume.”
In any case, the ingredients are there for an active Canadian housing market this year.
Rare. Extraordinary. Magnificent. Remarkable. Exquisite. Five words that could be used to describe the home you’ll find at 4825 Connaught Drive, a home that has been there for more than a century, yet has had only three owners.
