Buying a new home in Red Deer? Now’s the time!

Economic slowdowns in Alberta have come and gone several times in recent years – 1984, 1992, 2002, 2008 to name the most recent. Although we never want to minimize the challenges faced during ‘economic downturns’, it’s been proven time and time again that we inevitably come out of it stronger, smarter and better able to deal with the next challenge. In spite of the recent doom and gloom, the new home market in Red Deer is still doing very well. New homebuyer traffic to show homes in the area continues to be strong and the homes that offer incredible features and are well priced and well presented continue to attract buyers. It seems the Red Deer market has moved into balance and possibly in favour of buyers, after giving sellers an advantage for several months. Low interest rates combined with adequate inventory will create an ideal environment for those buyers not affected by the energy industry slowdown in Alberta. There are plenty of opinions as to where the economy is heading but one thing we do know, is that 94.5% of Albertans are still working and need homes. Purchasing a new home offers stability and security from rent increases or rental agreements not being renewed. If planning to buy, now is the time! Fewer buyers and high inventory means we’re well into a ‘buyers-market’. Take advantage while the low oil price scares less savvy buyers. If you wait till prices rise, and they will, you’ll miss the opportunity of the best inventory at the best prices. Increases are generally delayed and when they do finally show price increases, know that they’ve already gone up. If historical figures are to be relied on they suggest the downturn will not only be survived just as the ones before it, but that the economy will recover and become more robust – because that’s what Albertans do. They adapt and get stronger. So be a savvy buyer and purchase a new home while buyer competition is limited. At Avalon we work with homebuyers just like you all the time, and can help navigate the sometimes-confusing landscape of the Red Deer real estate market. Connect with us so we can help find your dream home at a dream price. Sources: RE/MAX real estate Central Alberta Lacombe Market Update – June 30, 2015