Winter lull good time to enter real estate fray: Agents
Rather than sitting around and talking about buying a home this summer, city real estate agents say now is the time to buy, despite the ongoing boom in the housing market.
Sue Currie, a city real estate agent with Royal LePage, says the housing market is remaining more stagnant during the winter, but will turn busy during mid-spring.
“Last year our busiest month was July and it usually starts to pick up, then escalates in late spring or early summer,” she said. “There is lots of inventory to choose from right now, so now is a good time buy.”
Last year was something out of the ordinary, however, as prices soared early in the year before they were driven down by the rising inventory, she says.
“We started January off with a bang and then prices just took off,” she said. “Historically, that’s never been the case.”
Edmonton’s home prices rose by 12.1 per cent in 2007, according new figures released by the Realtors Association of Edmonton. Those same figures also include a 1.5-per-cent hike last month.
But supply still exceeds demand, says the association, as 1,388 new city homes were listed while 857 homes were sold last month.