What are your predictions for the market trends?
What are your predictions for the market trends?
To
know where the market is going we need to understand where it has
been. Most of us did not see the last market downturn coming. We
heard that the US market was in trouble but there was some uncertainty
that our market would be affected. And of course, most realtors were
caught off guard. Even though the problems in the US housing market
were not prevalent in Canada, we still suffered a severe downturn in
sales and prices. Since then the local RE market has returned with
a vengeance over the last 5 months, and now we have a shortage of
high quality product. However, prices are beginning to return in
some market areas but we remain vigilant about the future of the market.