There is a lot of real estate pessimism about the London Ontario real estate market as a buyer’s market. Unfortunately, that pessimism is fed by the talking heads on TV or radio, the doom-sayers and the unwashed.
In the article below, The London Free Press and The National Post published an article stating that this is a buyer’s market.
There is no question that there are more homes for sale now than there were two years ago, and that some consumers are leery or unable to buy. I do not argue with that statement, as that is a fact!
Unfortunately, people love pessimism! Especially real estate pessimism!
Which headline would get more views?
Plane crashes. Or, 100,000 or more planes flew safely yesterday. I googled it.
It is a buyer’s market. Or, 631 homes sold in London, close to 98% of the asking price!
5% unemployment rate. Or, 95% of Ontarians have jobs.
So, yes, buyers who have the DNA (desire, need, and ability) are not as plentiful. Some buyers are keen to buy, but one or two key aspects of the DNA are missing.
For buyers with the DNA, this is an excellent opportunity to buy, and for any seller with a high DNA, it’s a great time to sell.
I am a firm believer that action gets results; the nay-sayers, economists, and newspeople aren’t the ones who buy.
Houses and condos sell; they may take longer than in the past; however, the patient homeowner will prevail.