In a recent Ipsos Reid poll, 64% of those surveyed felt that this was a good opportunity to buy a home. Given the financial storm we have come through, this is very good news for  many people who make a living in the housing industry. That doesn’t necessarily mean the those people are running out to buy, but at least it is a positive indication that Canadians still believe in the merits of home ownership.Given the Chicken Little rants of some that see our housing market in some sort of nefarious ‘bubble’, Canadians seem to be adjusting to the changing economy and making more plans to buy than in the past 12 months. Calgary’s resale numbers are way ahead of last year, as are new home starts in construction. The cautionary note in all of this are mortgage rates, which jumped again this week on the speculation that the Bank of Canada rate will rise in June. What we may see is an active spring, as buyers who are pre-approved taking the opportunity to get in to the housing market at a rate much lower than current ones.

It has long been held by most financial experts that home ownership is a solid way to long term wealth, and history tells us that. If you’re more than 30, you have heard of your parents or Grandparents talk of homes they bought for less than you may have paid for a new vehicle. Keep that in mind when you get nervous about a 1-3% change in the housing market. You still have to live somewhere, and paying off a home is one of the best investments you will make. We are seeing a balanced market in Calgary, so getting in or moving up is easier than in a seller’s market, like we saw in 2006-2007.  Check out my latest Cranston listing, a great home for someone looking to get into the market, close to both new schools, and walk to parks and shopping!