Saturday, July 29, 2017
Local Hamilton Market Conditions
Real estate markets are never static! The market has enjoyed a very strong Sellers' Market for the past year based on a lack of supply of available properties, combined with the very low interest rates.
However, over the past couple of months, we started to see more properties coming to the market and the real estate market slowly moving to a more balanced supply of available homes. The increase in interest rates, while very minimal, sent a slight shiver through the market signalling a potential change in lending rates. However, based on the information to date, I believe that we are moving into a more balanced market environment.
There is no need to panic. We are watching a demographic shift as one of the largest demographics in history - "the baby boomers", consider what their next real estate move might be... should they downsize, buy a condo, or stay put. The bottom line is that in a time of change and potential challenge, it is even more important to get the most up to date information on which to make a good decision. Your decision will influence your future and we want you to be comfortable with your decisions.
Let us help to inform your decision and provide you with all the necessary information to be relaxed with your future. Call us, email us, or stop by one of our offices. We know real estate and we are here for you.