Guess what? One year ago, my feed was full of fear and uncertainty. Yes, inflation still sucks (hello $7 pound of butter!). And yes, the market is different than last year’s frenzied sub 2% interest rate bidding war ridiculousness.
BUT…
The market didn’t crash.
For Edmonton Benchmark prices are down 9.8% year over year and total sales are also down 31.7%.
That might seem bad, BUT wait… if you’re comparing this year to last year, it’s like comparing an F1 racer to a 2005 Toyota Camry.
When we pull out the average years, this year is, well, normal. It’s average. It’s entirely unremarkable.
Which is fabulous. Boring is good for real estate markets.
I’d rather have my money be in a Toyota Camry than an F1 race car anyway 🙂