ReMax has released a report that looked at the local housing market over the last 11 years.
Since 2000, the report found, the Kitchener-Waterloo market has been predominantly a seller's market, having occupied the driver’s seat for almost 60 per cent of the time.
And while more balanced conditions have returned recently, the market according to ReMax Twin City Waterloo Manager Adrian Baas had only dipped into buyer’s territory on four occasions, one of which was during the recession.
Baas also says housing values have appreciated over the same time and won't drop in value significantly like some organizations are predicting. He says the market will continue to be supported by a strong local economy and a bright employment picture.
One drawback cited by the ReMax report is a lack of available land hampering new construction in the Kitchener-Waterloo area, which has redirected some new buyers back into the resale market or to other areas, like Baden, Elmira and New Hamburg.
ReMax says overall this year promises to be a good year for real estate in Waterloo Region with sales expected to hold steady even if interest rates start to rise.
http://www.570news.com/news/local/article/180802--a-seller-s-market