According to an article posted today, financial experts don’t believe that a further interest rate hike by the Bank of Canada will have much of an effect on home buyers. The impact to home buyers article seems to allay some fears that the buying public is very fragile at the moment. My opinion? Read on…I think this is a good news/bad news situation. If a rate hike has little impact, that is definitely good news for people who make their living in the real estate or home construction industries. The flip side to this is that many markets have been in such a stagnant state that there is little to impact. Calgary currently has about 7 month’s inventory, or almost double what a balanced market should be. The really good news is for buyers. The window of opportunity in Calgary is now and for the near future to get some deals on a home or condo.

The public is traditionally very slow to get the message about the current market. These great opportunities in the Calgary real estate market have been present for perhaps three months, particularly in the first time buyer’s category. Once buyers hear the message, it could be a bit of a runaway train for a brief period, before we swing back to either a balanced, or dare I suggest a seller’s market by next spring? It kind of reminds me of the time-honoured tradition of not saying the word ‘shutout’ when a goalie is close to one, for fear of ‘jinxing’ them. Real estate is a never-ending cycle of different markets. The only question is, how long does each one last. If you’re thinking of buying, you best not wait to find out in Calgary.

Tags: Auburn Bay, Cranston