Hello Team RED,
What's Happening in the Market?
Following suit to the past few years, the showing activity is climbing and should continue to do so through to the end of July. Sellers should expect a drop in showings through August, however, given that we did not experience as large of a decline in July as we have in past years, the current demand in the market could keep it a bit busier than "normal" in August.
It is worth noting that with inflation rates holding steady the rumored rate cuts for September could happen as early as next week!
Summary
With no indications of a slow down in Calgary, the reduced interest rates will increase affordability for some buyers who are just out of reach. This will potentially add demand to our market that has been inching towards balanced conditions. It will be a busy summer leading into Fall!
Steve Phillips
Broker403.618.6984
1210 20 AVE SW T2G 1M8