It was less than a year ago when homes in the Calgary region were hard to find. Potential home buyers were getting frustrated with the lack of inventory on the market and the multiple offers that were coming in for the hot homes. Many people decided to put their home purchases on hold rather than deal with the craziness that was surrounding the market.
Fast forward to today when the inventory has opened up. According to the latest statistics from the Calgary Real Estate Board, new listings were up to 3,288 in January, which was a 37.23% increase compared to the numbers that were reported last year. Today you can take a look through the Calgary listings and not have to worry about making a snap decision. You have choices and can really concentrate on finding the right home without having to deal with the external pressure of a seller's market. Today we are dealing with a balanced market, which is ultimately the best situation for everybody.
Now, with more inventory and a market that is more in favour of buyers, it simply screams opportunity. The plans that you were making last summer can now be taken off hold and be put into effect. You are in the driver’s seat now and as always, real estate is a secure investment for the future.
It rarely pays off to be a speculator when investing in real estate or other investment channels. Purchasing a home is a long-term investment and should be regarded as a minimum 5 year plan. As with other investments, the market can go up and down in the short term but the long-term outlook is always good when you buy a home.
When you make this purchase you will own something tangible - much more than merely a piece of paper with a stock number on it. You can touch and feel your home, put your feet up in it after a hard day at work and prepare your own meals in the kitchen. Every day you can use and enjoy your home while your investment continues to grow.
The Calgary real estate market has now opened up for buyers. If you were thinking about buying a home last year, now may be the best time to once again consider a purchase. Think in terms of a 5-year plan at least and really take a look at the opportunities that are available. Timing is everything and perhaps the timing for you is right now.