The market favours: Buyers.
Call me before buying or selling a home, it is important to find out what type of market you are entering into. Your listing price, negotiations and expectations will all be affected depending on whether it is a buyer’s market or a seller’s market.
Click on the link below to check out the difference between a buyer’s and Seller’s Market.
In Red Deer the number of active listing came down again to levels we haven’t seen since last January, although not enough to keep the market in balance after being there for the last several months.
Total sales in Red Deer in 2016 were down 8.3% from 2015
A struggling energy industry was the biggest contributor to a slower market in 2016, but provincial government initiatives including minimum wage legislation and the new carbon tax also had an effect on business and consumer confidence. When business and consumers are unsure how government policies will affect them, business is reluctant to invest and consumers are unlikely to make large buying decisions. The federal government’s new mortgage rules also contributed by making it more difficult toqualify for a mortgage. All these factors may combine to offset what could have been substantial gains in 2017. Instead, we expect the 2017 housing market to be only slightly better than 2016 assuming oil prices stay above $50US