COVID-19 Market in Edmonton
Hope everyone is staying healthy and keeping positive during these uncertain times. I thought I would take the time while things have slowed down a bit to keep everyone in the loop on whats happening with our Real Estate market. Not a day goes by without someone asking me about how much Real Estate prices have dropped in the last month. While it is definitely true that all activity has currently grinded to a halt (only the people have to buy/sell are currently active)- we have yet to see what direction the market will be going. Now we can obviously see that house prices should and will start to drop – as an immediate result of economic shutdown. Of course. However – this is typically our busiest time of year, and alot of people had planned on moving now…..and keep in mind, alot of the people that would have been buying/selling now will still want/need to do this once our restrictions have been relaxed a bit. Combine that with historically low interest rates, undervalued properties, and who knows, maybe some eventual gains in the oil market and Canadian dollar, a few positive stories in the news, and you never know….we could see a return to our regular busy spring market whenever this is all over. Optimistic? Absolutely. But I know there are currently some deals out there that Ive never seen before, and other savvy investors are going to start to recognize that too…..
Stay safe everyone – and any Real Estate questions during these quiet days dont hesitate to contact me.
