Wednesday Sep 19th, 2018Share
We are over a year since the Big Peak, and our spring market is now finished. It was, um...different. For the first time in almost 30 years, our coveted spring market, where most of the years pricing growth typ-ically happens, was...well...ahem...different. Even our 2009 spring market, after our financial world almost collapsed, was stronger (the May/June portion anyway). How's that for a comparison!
Many (and I do mean many) people are having a hard time grasping the situation. That is evident in the way sellers and buyers are struggling to do deals. Sellers think it has bottomed, and on the way up. Understand-able, since it has gone up every spring for a generation. Buyers are afraid to buy and with few indications of higher pricing to come, they are understandably patient.
What is different then? How about interest rates, economic threats from the south, housing market legislation, Doug Ford running Ontar-io...much is different from past years!
Certainly, we can agree on one thing, it was a different spring market this year. With interest rates changing (up), and trade wars threatening our economy (down), there does not seem to be lots of fuel to fire the market, but hey, summer is here, take a break, enjoy the weather, and…..get ready for a hot fall market...or not…;)