As we mark the mid-point of August 2017 I wish you all had the opportunity to enjoy this absolutely amazing summer. I can't remember another year full of so much sunshine and outdoor days.
It has felt like a summer of taking a deep breath and a bit of relaxation after a difficult two years. The real estate market is showing signs of recovery. With a step forward, back, sideways and forward again, the adjustments ebb and flow depending on the supply and demand in various micro markets around the city. Folks first jumped on detached homes and continue to do so with attached homes and especially apartments still lagging behind.
That being said, the current political climate, unemployment rates, migration levels and impact of the fall's lending policies continue to keep folks from getting too excited.
The Calgary Real Estate Board released the mid year report earlier today and it is a very good summary of our market and the various economic factors that fuel our market. Have a read.
In terms of buying and selling, right now is very much a time of adjusting expectations and ongoing review of market conditions. I'm very curious how the sales numbers unfold once we all return from our summer break and realize we only have a few weeks before the winter begins to show itself.
Remember, that if you are getting ready to list this fall or winter, now is the time to work on those minor repairs, paint the trim and touch up the curb appeal.
As always, please contact me directly if you wish some personal advice. I'm always happy to help.