When talking about housing we usually refer to the higher levels of home buying at this time of year as the “Spring Market” more often than not people ready their homes to go on sale in late February or early March and then let the buying begin.
This year is different. Much different. I’ve been part of the home buying industry for over 30 years now and I can honestly say I’ve never seen a year like this before. Here in Durham Region, (that’s where I do most of my business) there were no listings this Spring.
There are plenty of want-to-be buyers but nothing to buy. And if you happen to be lucky enough to find a house in your price range you could be assured you’d be competing with every other buyer who had the same list of features for their home
I’m blaming the shortage of inventory on the weird weather we had. Do you remember January? I do. We had days so warm that we crazy Canadians were out in shorts, washing our cars. But on May 14th my lawn was covered in white stuff. Not snow but enough hail that at first glance it looked like snow. I carried all my flower baskets into the front hall to keep them from freezing!
Why would anyone even think of making a move when we have 4 seasons in one week? But Canadians won’t be discouraged. There’s no snow forecast for the May long weekend and this being the biggest weekend for garden centres, we’re gonna get those gardens in shape and list our homes.
I’m predicting this year the Spring Market should arrive just in time for Summer.
Happy buying and selling!
Filed under: Mortgage News | Tagged: Buyers and Sellers, first time buyers, MLS.ca, spring market | Leave a Comment »
