Real estate markets can be very fickle as their variations depend upon several factors, including interest rates, supply and demands, and housing prices, to name a few. To ace the real estate market, timing is your ticket to profit, with a bit of research. Research might lead you to the trends in the real estate market so that you can grab an investment opportunity if the timing is in your favor. However, the latest trends in the current market in real-time are not as ideal as they seem. Read the detailed discussion below.
The Downward Trend of the Real Estate Market
Real estate markets throughout major cities in Canada have seen a significant slowdown in sales in April 2022. This steep slope can be attributed to the rising interest rates, which have tampered with the homebuyers’ willingness to buy houses. As a result, the demand for houses has gone down majorly. This time around, prices of Canadian homes have fallen from a record-breaking level, and this is not the worst yet. The Office of Superintendent of Financial Institutions issued a warning that the home prices could fall 10% to 20% if the interest rates spike. Owing to this, the Canadian real estate market is yet to see the light of the day in the near future.
The top-tier city of Toronto saw a sharp price drop since 2020 due to the brutal mortgage rates. Similarly, the major regions in the Western Canada have experienced high mortgage rates due to the effort to combat inflation. Hence, investing in these regions is far from an ideal decision. So in which real estate market should you dip your toes?
The Alternative Market
In this chain of dropping prices, the market of Edmonton has emerged as a well-balanced one. Throughout last year, Edmonton enjoyed historically low-interest rates and low prices as opposed to the rest of the country. This opened the gates for homeowners to invest in this market. Even now, the market of Edmonton is hardly witnessing a deceleration. The price of houses in Edmonton has been advancing, and this market seems congenial for investments.
An Investment Opportunity
The industry professionals at MR Engineering and its sister company ACI Homes offer the opportunity to bring your investor’s game to Edmonton. We keep up with the market trends and buying behavior to build houses that can accommodate your needs, be it house flipping or rentals. For example, a survey states that more than half of the homebuyers in Edmonton prefer a house that features an office space. Such shifts during the COVID-19 pandemic have directed us to reevaluate the infrastructure needs and provide for the same. Moreover, the state-of-the-art technologies at MR Engineering and the modern Design-Build execution at ACI Homes give us a greater edge over the others.
Edmonton is a silver lining within all the major slumps in markets. Even if you are not here, you can readily invest in its real estate. Reach out to MR Engineering and get started with your one-shot at Canadian house investment opportunities.