Christmas time may not seem like the ideal time to be hunting for a home. Many people will put there plans on hold because of the busy holiday season. However now more than ever maybe the ideal time to make your move.
Signs the Red Deer real estate market is changing:
- Decrease in listing volume.
- Increased Sales Volume.
- For 2010 the overall numbers show that sales volume is still down by 25.74%. However short term numbers show that November recorded 113 MLS® sales this year and 114 last year (2009). A quick snap shot of December reveals that so far this month we have recorded 64 sales this month compared to 55 for the same time period last year.
- Rising interest rates.
- We've been warning of a potential increase for sometime. The rush to do so to date has not been warranted. Until now. A .25% increase was announced early this week. Where rates at 3.69% are now at 3.94% for 5 year fixed terms. (contact your bank today if you have a rate hold, rates may be available lower for quick closings as well).
- Economic prosperity.
- We are in the beginning stages of growth once again according to economic experts.here are a few articles referring to Alberta that point to a stronger 2011.
What is important in all this is...
Buyers today have less homes to choose from, the decreased rate of supply is strengthening price, the increase in sales with rising rates for borrowing indicate the "market is picking up", Rates on the rise are a response that banks see our economy as getting stronger, the oil activity in increasing as is the price per barrel. Red Deer real estate is a reflection of our Oil and gas economy. The stronger and more robust that industry is the more ours will be.
Don't miss out on a great opportunity to buy today. Home ownership is a long term investment with plenty of growth potential in Central Alberta.
Your Friend in Real Estate,
Patrick on twitter: @pgalesloot
MLS® for the City of Red Deer only from the Central Alberta REALTORS® Association.