Like so many industries, Real Estate occasionally experiences difficulties or issues that affecting real estate in different ways. Covid-19 was a prime example of the types of things that affect Real Estate. This is when you want to work with a trusted and professional Realty.
Royal Canadian Realty is ready and able to face these, and other, challenges, to ensure you have the best Real Estate experience possible. With such a professional, and caring team, you will be able to buy or sell your house
What Is Affecting Real Estate Today?
Here is just a selection of issues that are affecting Real Estate.
Affordable Housing : There is a great need for housing that is affordable, but there is also a great shortage of available housing. This shortage is even greater for low income households. Prices have increased for ‘For Sale’ homes, but there is a lack of available homes.
Utilization of Space : The new and current focus on a building’s occupants and their health, air quality inside, affordability, and density, affects the utilization of space in buildings. Many blame Covid-19’s impact on the change of design and use of space for Real Estate.
Technology : Even the ever-changing world of technology has impacted the way families and businesses shop for real estate. Privacy and collaboration tools, cyber security, safety standards, and web-meetings have created a specific real estate for business that need those things. Remote building services, contactless elevators and doors, as well as remote working, have all changed how many now shop for homes or businesses.
Volatility and Risk of Capital Markets : As mentioned before, Covid-19 is blamed for many things, and it hasn’t helped the volatility of the capital market or the level of debt and equity. Covid assisted the market’s volatility to spike, creating even more challenging debt. Risk premiums have spread with the increasing “zero interest rates,” and the valuation metrics have become critical.
Just because there are issues, doesn’t mean buying or selling your home should be put on hold. Issues can be solved. For example, CREA (The Canadian Real Estate Association) just released on July 15, 2022, that newly listed properties were upo 4.1% month over month. Also, the MLS Home Price Index was up by 14.9%.
The best thing to do when you are uncertain or have questions, is to speak to your Royal Canadian Realty agent. Your agent is there to help you and answer any questions you may have. He or she will have the most current information available.
No matter what issues are going on in the Real Estate industry today, Royal Canadian Realty can guarantee professional and friendly service while doing what they do best - finding you the best home possible, or helping you sell your home.