Getting The Most out of A Buyer's Market: Buyer's Edition
Posted by Ken Richter on
There is no doubt about it: Calgary is currently in a buyer's market.
What is a buyer's market? A Buyer's Market is when there are more units on the market than what are being sold; inventory is high, sales are low. This drives down prices on homes as seller's scramble to do whatever it takes for their home to stand out and sell, since during buyers markets homes end up sitting on the market for much longer than usual. Buyers simply have more options, which is great if you are planning to buy.
It may seem obvious, then, that as a buyer this is a fantastic time to enter the market. The reason why this has not been as simple as it seems is because of the new stress test put in place by the Bank of Canada to ensure all prospective buyers desiring a…
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This townhome in beautiful Bowness will be your new home-sweet-home.
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