The recent low levels of housing inventory has contributed to buyer frenzy and multiple offer situations that have driven purchase prices skyward. This is coming to an end as the warm weather is getting more and more people to put their houses on the market. This sudden surge in inventory will alleviate some of the buyer anxiety as there will be more houses to choose from. This will help balance prices and reduce the amount of multiple offer situations.
More and more buyers are now choosing to wait and not engage in multiple offer situations. With more houses coming on the market now, these buyers will have more time to choose and won't have to jump in well over asking without conditions.
With interest rates at record low levels, they can only go up from here. With inventory now coming on the market coupled with rising interest rates, HST, and new lending restrictions on the horizon, it is a great time to consider making a home purchase.
For more information on current market trends or available housing in the area you would like to purchase, please call me at 905-220-9198 or email me at firstname.lastname@example.org