To Buy or Not to Buy…

Everyone has been continuously talking about inflation for the last 2 years. Over the past few months, in a panic to control inflation rates, the central bank began raising interest rates. Buyers are finding it hard to get financing, and Sellers are not willing to drop their prices as quickly. Inflation is high and cost of new construction is holding home prices up for Sellers. The real estate market outlook is definitely downwards, given uncertain times in the market. Sellers should be pricing to sell or alternatively, rent their properties (Rental market is strong). Buyers can continue to choose to hold out a bit longer but if it is a great deal or a long-term investment, they should act quickly.