Well, 2018 has almost come and gone. For many, it has been a difficult year. In the real estate industry we have seen challenging markets before, but this cycle is undoubtedly a difficult one for us all. Realistically, I feel that we are still on the downside of the market and the indicators are that we are in for another challenging year with a projected further decline of 1% - 2% in prices into 2019.
I look at this as an opportunity for two important sectors of clients – first time buyersand investors. For buyers, 2018 was an extremely difficult year with new mortgage rules that resulted in the largest amount of collapsed deals I’ve seen in my 20+ year career. Despite this, the buyers within our Calgary market continue to understand that we are one of the most affordable cities in Canada and those that are serious about home ownership are seeking guidance from us and our mortgage partners to find creative ways to secure financing for their first home or condominium purchase. Some of these same buyers are now feeling pressure to purchase because of a stronger rental market seeing a re-bound and thus increasing rental rates. On the investor front, many turned away from buying because they felt that prices would continue to fall while others were busy selling off revenue properties before they lost more of their assets. In my opinion, I feel there are signs of stability in the overall economy, and coupled with the continued low interest rates that are available we will see some of these investors come back to the marketplace. I am confident that we are in the right place to see an increase in transaction volume for all REALTORS® into 2019.
Within MaxWell Canyon Creek, and throughout MaxWell Realty, we continue to adapt to changing markets by providing the right tools you need to assist in ensuring continued growth. As we enter the 20th anniversary of MaxWell in 2019 we look back on our beginnings of our Calgary offices to today having nearly 1,000 REALTORS® in our network and growing. We look forward to celebrating this milestone anniversary later in 2019 and are proud to say that we are now the Largest Alberta Based Real Estate Organization. With our continued growth we will continue to be a long standing, stable company that will provide continued support to our REALTORS® and clients alike.
I look forward towards a year of continued growth for you and all of us at MaxWell Canyon Creek and I take this opportunity to wish everyone a very Happy New Year and all the best for a prosperous 2019.
Roger Arsenault Broker/GM MaxWell Canyon Creek 403.444.7624 firstname.lastname@example.org