Windsor Residential Prices Have Small Rebound In July
Inventory Decreases Slightly In Bear Market Rally
Windsor residential real estate rallied slightly in July after having dropped in value more than 10% over the last few months. In July the months of inventory on hand decreased from the high discussed last month.
Many pundits in the USA have officially declared a recession in that country after 2 quarters of negative GDP growth. Canada is not in a recession yet by that same measure. However, Canada’s real estate market overall is definitely in a bear market. A bear market is one that is trending downward when viewed on a long time scale. A bear market can rally upward for a while only to drop to new lows. Windsor may be in a real estate bear market rally right now.
Bear market rallies can lead to a reversal of conditions and create a bull market, which is a growing good market. However, more often a bear rally leads only to another negative period. Until the country’s economy and prospects start to look better, it is probable the bear market is here to stay.
If You Must Sell Soon, Sell Right Now: You Could Loose $100,000s If You Wait
If you knew 4 months ago that you had to sell your home soon, but you waited until now to do so, you have already lost around $100,000 in equity or value. This trend is probably not reversing until the USA pulls out of its recession. These macroeconomic issues will not be fixed quickly.
If you wait to list your home 3 months from now, you may loose another $100,000 in equity or value. Sell into this small bear market rebound for the most cash possible in the near future.
Contact me to cash in on the gains you have made, before any more may be lost to this downturn. Call or Text 519-300-6464
If You Can Hold The Home For 5 Years, Maybe You Should
When you own an asset in a bear market that has use for you, the best course of action is to keep it until a positive bull market returns. That way you can take advantage of the rising prices, when they do start reliably rising again.
If your home is a good fit for your family and you have the means to hold it, probably that is your best option.
Market downturns don’t last forever. Prices will go up again. If you can wait until that time, that would be my suggestion.
Is Now The Time To Buy A First Home?
In recent years young people have complained that houses are unaffordable and they are not being allowed to thrive. Here is the best news in years for those young people: houses are getting more affordable. When prices are going down it is the perfect time to buy an asset!
Professional investors make their living buying things low, and reselling them high. This is the same principal.
If you buy your families first home when prices are going down and the market is fearful, you will hopefully be in position to resell the home for a big profit when the market is confident in a few years.
To get expert advice when considering real estate in Windsor, give me a call, 519-300-6464
