Considering a home purchase or a revenue property in the near future?
Important notice for people who may have interest in buying a property in the near future. We will see property prices drop if listings continue to flood the market. Watching closely I’m seeing new listings hit the market at a rate as high as 3 times the number of sales. We are witnessing listing numbers exceed sales numbers substantially week after week.
Demand for properties won’t increase as we head into the summer months but with supply running rampant there’s an imbalance. The theory of supply and demand states – if demand stays the same or decreases while supply increases prices will drop. At the rate we’re going property prices in Red Deer will decrease further before they improve.
Here is a link to the most recent report: http://www.century21.ca/
This is a tip to people planning to buying property in the near future. BUY NOW. The price drop won’t be huge but it will stagger slightly over the next few months. And right now, with interest rates still at silly low rates, it’s the most opportune time to buy to capitalize.