Reality Bites? How the Post Pandemic Mindset is Impacting Real Estate

Dated: June 10 2022

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As we enter the month of June it is the perfect time to ask yourself if anybody thought this Covid fed market could last forever?
Sooner or later the market was bound to shift. 
We have now spent the past 2 plus years marveling at the Real Estate Markets across the globe.
HIGH MARKET DEMAND DRIVERS
The work from home phenomenon.
Historically low interest rates.
The drive out of urban centres to places with more space.
The willingness that companies have to hire remotely…it really doesn’t matter where an employee lives nowadays.
A mindset change where people are more aware of where they actually want to live to be happy.
Did anyone really think the market would continue to grow and climb indefinitely?
Well… the reality is now...our market is shifting.
REALITY HITS HOME
Increase in interest rates have affected Buyers budgets.
Gas prices and inflation are affecting the average family on a weekly basis.
The recent election had many people undecided and less confident of their future plans.
Media in general has been very negative with regard to the Real Estate Market.
As a result, we are seeing fewer GTA Buyers entering our market.
Average number of showings per week is less.
Average days on market is more.
The number of Buyers attending open houses is less.
The number of listings available for sale is more.
The number of offers per listing is less.
TRUST IS KEY!
While there continue to be sales, we certainly appear to be approaching a more balanced market.
This shift is causing us to have many different conversations with our Buyers and Sellers.
It is more important than ever to be knowledgeable of the market, have realistic expectations and a true plan that will allow you to achieve your real estate goals and dreams.
 
If you are considering a move in 2022…we may want to connect now and discuss options and strategies that may best fit your needs.
In a shifting market it is more important than ever to be educated on the market and have a trusting relationship with your Realtor to help guide you thru these exciting times!  
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Impact Realty Group

We are a successful team of Realtors that pride ourselves in providing reliable, honest and efficient Real Estate service to Buyers and Sellers alike. We have over 50 years combined Real Estate experi....

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