What always happens to the real estate market — it will reflect supply and demand.
It will respond to trends in movement, trends in building, trends in financial markets, trends in employment.
It will also reflect the buying power of those who are most active during the time. In markets both hot and “low” investors are always looking for opportunity.
What about homeowners and future homeowner’s? Same. We just tend to frame it differently.
You might say that one is about money, and one is about need.
You might say one is a business, and one is about family.
But what if you looked at both sides of the equation?
Do regular homeowners not want to grow their wealth?
Do regular homeowners not want to find the best value possible?
Do regular homeowners not want to see a return on their investment when they sell?
Yes, they do don’t they.
In a market like this, even in the height of COVID-19, people are still needing to sell. People with family members like parents who are going to move in with their kids, people who need to downsize sooner rather than later due to financial reasons, people who realize they need more room for everyone once this is all over.
The trends in real estate are not about numbers. What underlies it all are the needs and wants of people. Where will this all go in the coming weeks and months, we do not know. But one thing I feel confident about? I’m so glad that I own real estate in Waterloo Region. And I’m so glad to be able to have the opportunity to buy/sell or invest in real estate in a market that has demonstrated so much cohesión and community during this difficult time.
This is our home. And through thick and thin, we’re going to keep building.