Four keys to watch as the year unfolds:
Markets constantly evolve. Whether you are considering buying, selling or taking on an investment property, the key is to always be ready to capture opportunities.
Here are some key factors to watch as we shift further into 2017:
Signs of stability
While potential shifts are always on the horizon, for the most part “stability” is an early key word defining the market for 2017. There should be a nice balance of opportunities for both sellers and buyers, with sellers benefitting from reasonably steady activity and buyers still having good space for a level of negotiation.
Numbers tell the story
An average balanced market for Calgary is around 6,200 listings. Currently we’re significantly lower at about 5,300 listings, with demand that is relatively average.
For those in a good position to buy, there are benefits to acting rather than waiting in the current environment, especially with interest rates starting to climb. With favorable terms for locking in rates with pre-approvals, doing so is a good option to be ready when the right opportunity arises.
The pipeline factor
The landscape can shift quickly and significantly with positive economic news, such as recent developments on pipeline approvals. This is something to watch for both buyers and sellers, as each new signal of economic progress adds urgency to taking advantage of opportunities.