Good Morning to all those in this beautiful game of Real Estate!
The average price for a home in the Waterloo Region is $770,596, which is a 25.6% increase from 2020.
It’s no secret that Ontario Real Estate prices have been rising like wildfire. As have Vancouver’s.
What may not be so obvious is why this steady climb has continued to persist during the pandemic?
After all, if we’re in a recession, shouldn’t prices fall down? Well, it’s not that simple.
Population growth has been increasing, and the economy and student base are in Waterloo have been continuing to grow. And these are the true steady markers that determine real estate prices. All throughout history, men have gone to the land that has the opportunity, in search of gold.
No one can say for sure, but it’s safe to say that the Waterloo economy, population, and the growth of the universities are not all going to come crashing down any time soon. This tells us that housing prices aren’t going to come crashing down either. In fact, the most likely outcome is that housing prices will continue to grow in proportion to the growth of Waterloo as an economic entity.
And I guess Ontarians know this, considering the fact that our current market has the least amount of homes listed on the market in DECADES. Folks are holding on to their homes in these shaky times, and perhaps for the better.
It’s definitely not a time to be PANIC-selling. If there’s one thing all savvy investors know, it’s that no good decisions are ever made out of emotion.
And that’s where we professionals like journalists, influencers, and real estate professionals come in, to educate homeowners so that they can make their decisions from an informed place.
If you want to learn more about how to calculate rather than speculate when making real estate moves, go ahead and check out some of my content on Real Estate Investment Strategies in Ontario over at bit.ly/realadamyoutube. Real estate has made many a millionaire, and it’s made a lot of billionaires. It’s your turn to get a piece of the pie.