CondoAdvisory Blog

Well I know this may sound like a broken record, and nobody really knows where the market will go, but I think it is still a good time to buy. I must qualify this statement, I agree that the market will likely decline more, but if you are looking for a home, market conditions right now certainly favour you.

With the Economic uncertainty and now the political uncertainty, looks like any progress on the economy is on hold now until the end of January. Add this to the traditionally slow season in December and January this means there will be virtually no buyers buying.

Think about that, if there are virtually no buyers and there are people trying to sell then as a buyer you are in about the best situation you can be. Add to this the fact that interest rates are set to decline yet again.

So again, the bottom line is if you are looking to buy a home, I can’t see conditions being much more favorable than now, but prices will likely decline more. The advantage to buying now is you can probably get sellers (who want to sell) to come down below market value.

With condos I see this being even more so the case, as there is certainly a large supply of them so many sellers will be looking to get out.