Читать книгу Complete Home Buyer's Guide For Canada - Geraldine Santiago - Страница 36

Before purchasing your first home, it is important to look at larger market conditions, such as local and national housing prices, mortgage rate movements, and new home construction. The CMHC Market Analysis Centre assists home buyers in understanding how the housing market is evolving. The Market Analysis Centre is a great source for finding out about the current housing market. Local market analysis reports are published regularly and provide information on recent trends in housing market conditions.

Understanding if it is a buyer’s, seller’s, or balanced market can give you the advantage of knowing when to buy a new home.

Your local CMHC market analyst can tell you if it’s a buyer’s, seller’s, or balanced housing market. In a buyer’s market, the number of homes available for sale exceeds the demand, so prices will either stabilize or drop. With fewer buyers and more homes, you not only have more options to choose from, you also have greater negotiating leverage. You have more time to look for the right home, and you can evaluate the choices without feeling pressure to act too quickly.

In a seller’s market, the seller dictates the price. The number of buyers exceeds the number of sellers, so relatively few homes are on the market. In this situation of low inventory, the seller often gets its price (sometimes more than its asking price) because of a bidding war, in which there are competing or multiple offers.

In a balanced market, there is an equal number of buyers and sellers. If you are a buyer in this market, you will probably not experience a bidding war because there are enough properties listed on the market.

Another major influence on your decision to buy is the mortgage interest rate. What rates are available now, and what will they be in the near future? Will they fall or will they rise, and if they rise, by how much? Trying to answer these questions can be difficult, and CMHC’s Market Analysis Centre can help. The centre can provide you with both an analysis of the current mortgage market and an outlook for future mortgage rates. For those who need the big picture of Canadian housing, the Market Analysis Centre produces a series of national and local subscription reports to provide a comprehensive view of housing across the country.

You can also use CMHC’s “AffordAbility” computer software. It can help home buyers, people renewing their mortgages, and move-up buyers determine the home price and mortgage they can afford. If you prefer to access the latest housing information directly from the Web, visit www.cmhc-schl.gc.ca. You can order the most popular reports online.