AA new home for Christmas? It’s good news for home buyers this week, as CREB is reporting Calgary’s real estate market is favouring buyers right now. A few factors are coming into play to bring these conditions in our city, but it’s definitely good news for anyone looking to buy.
Persistently high inventory levels within Calgary’s residential resale housing market, combined with weak sales activity, contributed to buyers’ conditions in November, according to CREB®’s monthly housing summary, released Tuesday. The combination of both soft sales and elevated listings caused months of supply to rise above four months. It represents the third consecutive month that housing supply in the city has remained near four months, which is an indicator that supports buyers’ conditions. [CREB]
The Bank of Canada also announced today they are keeping the overnight rate the same, and mortgage rates are still very low, but are forecasted to rise fairly soon. If you are in the position to buy a home, now is the time to take advantage of lower home prices and great interest rates. Please contact me if you have any questions.
