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Will You Miss The Buyers Market In Wasaga Beach?

And how long will it last?

Four factors characterize a strong buyers market:

1. An over supply of inventory.
2. Decreasing prices.
3. low interest rates.
4. Plentiful mortgage financing.

So far in 2009 real estate Wasaga Beach ticks numbers 1 and 3; number 4 is debatable as lenders have tightened their criteria but mortgages are always available  for those with a solid credit record especially when using a mortgage broker to find the best option.

“Decreasing prices” suggests the huge 20% to 30% drops that magazine’s such as Macleans like to write headlines about. In Wasaga Beach the last 12 months has seen the avaerage price of a home fall by roughly 2.5%. Point 2 can have a slight tick and no one can argue it has been a buyers market. the biggest problem has been the lack of buyers.

This “may” be changing. June saw a higher number of sales and also less listings compared to the corresponding month in 2008 for the first time this year. Mortgage rates are creeping up.

Not for one moment am I suggesting that a sellers market is just around the corner BUT we may be heading for a more balanced market. For those who have been sitting on the fence waiting for prices to hit rock bottom you may have already missed the boat and now is the time to buy.

Also:

Record Home Sales In Toronto; Wasaga Beach To Follow?

This entry was posted on Saturday, July 25th, 2009 at 2:05 pm and is filed under The World Of Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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