Hard to believe it's here already but time stands still for no one. The weather has been pretty crazy but despite temps of -40 the real estate market is still hot. The forecast is a bit of a repeat of the past years in that sales and prices will continue to rise, albeit with less velocity. We can look to the economic factors of high immigration, good employment numbers and most importantly low interest rates as the culprits. Many home owners are choosing to remain put which puts a bit of a strangle hold on the market by reducing the number of homes for sale so we can add that to the mix (less homes for sale but more buyers means rising prices).
First time home buyers should be looking at a townhouse over a condo if they can afford it as the value of land will always outweigh the views of a condo. If you are looking to make a move feel free to contact me for free advice.
Stay warm my friends!