Why Spring 2019 is a Great Time to Buy a Home
As you may already know, spring is a great time to sell a home in Edmonton. After all, the snow has (mostly) melted, the grass is greener and it’s finally time to enjoy being outside. But what about BUYING a home? While you’re sure to hear a lot of different opinions from a lot of different sources – spring 2019 is a great time to buy a home in the capital region, and here’s why:
It’s A Buyer’s Market
We know you’ve heard this song and dance before – especially from a real estate company. But, based on the numbers, Edmonton really IS in a buyer’s market based on recent statistics:
So, what does this mean for buyers?
Due to the small decrease in Edmonton property values, sellers are leaving their homes on the market longer in an attempt to recoup their initial investment. However, to avoid pricing themselves out the market completely, they’re also remaining competitive with the median Edmonton sale price and in many cases, dropping their original asking price.
In short: plenty of inventory to choose from, on the market longer and predictably priced.
Interest Rates Are Low
Due to the fact that Canadian bond yields have fallen, many Canadian banks and lenders have been able to cut fixed and variable rates by several basis points over the last few months. And, since spring is the busiest time of year for real estate, this is especially beneficial for buyers as lenders tend to offer competitive rates in order to capitalize on the market.
Better Weather = Better Buying
While it’s obvious buying a home in Edmonton in May will be much more pleasant than sub-zero January temperatures, there are plenty of other reasons why spring makes house hunting a better experience. For starters, less snow on the ground gives you a better sense of a home’s curb appeal and, in some cases, a better look at potential problems (I.e. cracked foundations, walkways or driveways, roof repairs, landscaping issues, etc.).
- A surplus in open houses
- Keeping summer vacation plans
- An easy home move
Great Real Estate Agents
While a good Edmonton agent will help you make the right home buying decision any time of year, their expertise can be especially helpful during the busy spring season. From helping you navigate the crowded market to negotiating with sellers, having an agent on your side will make the home buying process simple, affordable and fun.
Do you have questions about buying a home? We have answers! Get in touch Edmontonrealestatepro.ca today and one of our friendly team members will be happy to help. Or, feel free to take advantage of our free home buying resources, from mortgage calculators to personalized home searches, we’re here to help you on your home buying journey.
*Statistical data provided by zolo.ca