Posted by Leif Olson on Wednesday, June 1, 2022 at 2:16 PM By Leif Olson / June 1, 2022 Comment
Are you a buyer? And are you currently trying to time ⏱ this market?
Hello everyone. It's Melanie Giray with RE/MAX Affiliates and the Hamre Real Estate Team.
Now I was recently asked by someone is now a good time to buy? I think my answer shocked them a little bit.
Some buyers are concerned with buying at the top of the market and rightfully so, but what they should really be thinking about is where is this market headed?
I have no problem buying an asset at the top of the market, as long as it will continue to appreciate in value.
Let's look back to 2020. People that were buying then were buying at the top of the market.
Though the market continued to appreciate considerably over the next 24 months.
We speak to economists and industry experts every single day.
They're predicting that this market will continue to appreciate over the next few years.
Though at a slower pace than the absolute frenzy that we've witnessed over the last two years.
The reason for this is simple supply and demand. There simply is not enough inventory to support the growing population of Ottawa.
We're going from a population of 1 million to 1.4 million, and it's going to take a few years for development to catch up and resolve the inventory shortage that we're currently experiencing in the city.If you're a buyer and you've been thinking about getting into the Ottawa Real Estate market, now might be the optimal time to get your foot in the door.
If you're thinking about buying, send me a message.
Let's connect, we'll look at our options.
I hope everyone's having a lovely day.
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