People moving further outside Calgary city limits for a slice of homebuyers’ paradise – May 20, 2022
Clark said the run on single-family homes in 2020 helped lead to an increased supply of condo apartments.“And now the amount of condominium listings is decreasing, which means that we’re going to go from low prices to maybe slightly more than low prices, but we’re not going to spike anytime soon in the condo market because there’s so much new product coming on,” she said.
Price said increased interest rates are driving people to lower-priced apartment buildings. And the return to offices is causing buyers to reconsider how far away they live from work.“If you were working at home for two years and never had to come in, and now you’ve got a 40-minute drive and you expect to be in the office three or four or five times a week, that’s a dramatic difference to your lifestyle,” he said., showing home sales continuing to cool as interest rates rise.
Clark noted that recent performance of the stock market might have investors look to real estate for value and stability. “But we’re also seeing many landlords who are seeing an opportunity to recoup at least part of their losses. So we’re seeing that too,” the realtor said.“It’s a great time to buy. It’s a great time to sell, if it’s the right time for you.”
no shit, who can afford 500k+ for a house.