In the short term a slowdown in the housing market can be worrying for homeowners and isn’t ideal for realtors either!
In the short term a slowdown in the housing market can be worrying for homeowners and isn’t ideal for realtors either! However those who’ve been in the property game for many years often take the long-term view in times of turbulence; activity and prices fluctuate but generally real estate is still a good investment. Don Campbell, senior economist with the Real Estate Investment Network says that forecasting prices in the Calgary area while oil prices are volatile is impossible as no one knows how low they will go and when they might recover. Christine Hegarty of RE/MAX Realty Professionals has been a real estate agent in Calgary for almost 25 years and told the Calgary Herald that she’s not panicking because over the longer term the market has performed well. She also points to the low vacancy rate for rentals in the city: “Housing prices should continue to see a slight positive gain. Unless there are reasons for sellers to take a substantial decrease, most would not do so. Why would you want to lose 10 per cent on your real estate value when you can lease out for a premium based on such low vacancy rates?” Read the full story.
