Will the real estate market and prices remain stable in 2012?

Some interesting predictions from a new poll of Canadian financial strategists and analysts. Get out your crystal ball and get ready to play “Guess where the market is going!” http://cravecanada.com/wp-content/uploads/2008/08/vancouver.jpg As a REALTOR® I get asked almost on a daily basis what the market will do next. Unfortunately this is anyone’s guess. Of  the poll respondents, only 60% of these experts would even attempt a guess at the price forecasting.

The referenced article shares what might be on the horizon. If we do see a small drop in prices I don’t expect much in the way of a major market adjustment. Sure, people who bought with a very minimal down payment and are in a variable rate mortgage could feel the pinch but for the most part Canadian banks are conservative and don’t lend money easily.

Stay tuned here for updates on he market situation and for predictions on where the market is headed. Not from me directly of course, I gave up guessing long ago.

Do your homework and enlist the services of a well-recommended REALTOR® before undertaking a property search to best protect yourself.

I welcome any questions you may have about selling or buying.
Feel free to comment here or contact me directly.

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