Sarah Mills: Speeding tickets three months after the fact are no deterrent
Sarah Mills says photo radar tickets that come from Calgary months after the offence is not going to teach anyone a less...
Buyers are on the hunt for new homes in Regina, but there aren’t as many options on the market.
Craig Adam of RE/MAX Crown Real Estate said people are getting more comfortable going out to look at homes as COVID-19 restrictions get lifted, but the inventory hasn’t caught up.
“Buyers are still there because prices are low (and) interest rates are low, but the inventory wasn’t there so that’s why we’re seeing some multiple-offer situations and some of the inventory is just not catching up with the demand right now,” Adam told the Greg Morgan Morning Show on Tuesday.
Adam said it’s usually normal for inventory to be low during the spring, with the market heating up during the summer months.
But sellers with their houses on the market might not be getting the best bang for their buck.
“A house is worth what a buyer is willing to pay,” Adam said. “The good thing is if you keep your house in good top condition and showing well, it will sell. But prices have come down 10 (per cent), 20 per cent and some cases 30 per cent depending where you are in the city.”
Adam said prices of homes in Regina have gone down over the past few years and the current price tag on a home might be similar to what it was back in 2010. Adam also noted interest rates are low so buyers are anxious to get into the market.
“Sellers were a little slow to get things going but buyers were champing at the bit and that’s why we saw a surge in sales for sure,” Adam said. “There’s more inventory coming onto the market but I think it’s starting to become more balanced and that’s a good thing.”
