The pent-up demand for affordable residential properties will ultimately be released, and this can trigger a snowballing reaction where sales across all segments will finally reach positive territory. This scenario is no longer a pipe dream as we are now seeing leading and concurrent indicators that Canada’s real estate industry has now moved to positive territory. What remains to be done is to ensure that this positive development is sustained until full recovery and growth are finally achieved.
The single most glaring indicator that the situation is about to make a complete turnaround is the substantial boost in sales across critical home segments in leading markets. A more balanced setting is now being observed in most markets, indicating that the marketing lists canada conditions are rife for stakeholders to start making major moves for their investment options. With the eventual return to a more stabilized regime, markets are slowly shedding off some of the excess control of buyers and giving better options to sellers. There is now a strong reason for stakeholders to reconsider potential investment opportunities. This cycle will ultimately lead to a more stable markets.
Real estate experts and industry analysts are now making strong pronouncements that after eight months of tight market conditions, real estate markets are now poised to make a big comeback which is good for both sellers and buyers. If we look at the conditions in Canada’s largest real estate markets, Vancouver and Toronto, we can easily say that there are indeed a lot of reasons to be optimistic. Toronto sales figures posted a significant 27% jump from the same period last year while Vancouver registered an amazing 75.6% incremental growth for the same period of last year.
These are significant positive developments in these markets. Experts strongly believe that these can easily provide the impetus for the full recovery of other real estate markets in Canada. There is now an emerging trend that by the end of the year, the real estate industry will have been able to gain sufficient ground for a big comeback towards the early part of next year, at the latest. Amid the lingering effects of the global financial problem, we have to recognize the critical role of real estate market in the survival and recovery of the country’s economy. In fact, a silver lining of this current economic turmoil that we are in is the realization that the resiliency of the real estate industry of Canada has single-handedly bailed us out of the financial sinkhole. In fact, this is the main reason why we find ourselves in a better position than other major economies.
How can we explain this leading change in the mood in real estate markets? Canadians have strong faith in homeownership. This is the main reason why we see serious homebuyers who continue to tread on uncertain grounds in the market for the sole purpose of snapping good deals. There is growing number of great opportunities in the last eight months where buyers can be able to cash in on what could be the best deals that these real estate markets have seen in recent years. Those who decide to watch the action from the sidelines are actually losing out on great opportunities which most seasoned investors consider as viable earning options. However, stakeholders emphasize the need for vigilance while real estate markets are going through a transition phase that is characterized by high interest rates, declining inventory levels and upward pressure on home prices.