Earlier this week, we shared some insights about what’s really behind the luxury real estate ‘doom and gloom’ headlines in Calgary lately. While the media continues to focus attention on the negative aspects of the economy and real estate market, let’s be clear about one thing—the sky is not falling. Some sectors naturally took a hit as a result of the economy in Alberta, but there’s one sector that’s still doing remarkably well, and nobody seems to be talking about it.
Mid-range single-family homes are still moving, and fairly quickly too! Homes in the $350K – $550K price range are still being bought and sold at the average rate, and there doesn’t seem to be any sign of slowing down. We’re seeing a big increase right now in homebuyers that work in the public service sectors.
Yes, there are layoffs happening in our city and the oil and gas industry is getting hit pretty hard this year, but there are a lot of other industries where things have not only stayed stable, but actually increased. Those who work in the public service sector are snatching up homes a lot more right now, and for great prices. Interest rates are still historically low, but they are of course rumoured to start rising, so now is the time to buy.
As a buyer, the ball is really in your court in Calgary. The inventory is still high enough that prices are competitive and if you’re still maintaining a stable income and job, homeownership is yours for the taking right now.
If you have questions about buying or selling your home right now, please feel free to contact us anytime.
