Market Commentary May 2022
Coming soon - 1 Mountain Park Ave.
There's lots to celebrate this month including Pride, Juneteenth and for some of us who have school age kids it's another end to a school year. For my family, we're celebrating my eldest son's high school graduation and the start of a new chapter.
As the summer market begins we continue to see a more balanced real estate market. Rising interest rates and inflation have shifted some buyers and sellers psychologically and impacted buying power. Personally I see the opportunity in every market. Although rising rates impact carrying costs, with a less frantic market, there's more room to negotiate better price, terms and add conditions to protect you. For Sellers, I encourage you to see the Big picture. Despite a slight decrease of 1.75% compared to May 2021 as reported by RHAB, home prices have more than doubled in the last 5 years in the GTA and Greater Hamilton area. Real Estate remains one of the best investment vehicles. Read the full market report for Hamilton- Burlington for May 20221 here RAHB and Toronto stats TRREB .
If you have any questions about the current market please don't hesitate to give me a call.
Wishing you a fantastic weekend!
Stella McCollum
