Looking to buy a home in 2018? Well this year your patience will be rewarded!

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The first half of 2017 was a dark time for GTA home buyers. Home prices were raising to unheard heights, which caused many buyers to question if they can even afford to own a property in the area at all.

 According to Hilliard Macbeth, 2018 might finally be the perfect time to buy!

 Macbeth says "for those few people who have waited for house bargains, 2018 could be the year," and that "your patience will finally be rewarded."

 MacBeth predicts that interest rates and mortgage rates will be on the rise over the course of the year. The bank of Canada has increased interest rates twice in 2017 and markets are expecting more in 2018 says MacBeth. 

 MacBeth also predicts a decrease in consumer spending, after a solid 2017. Retail sales rose from $25 billion in 2009 to $34 Billion in 2017.

 A final factor in a cooler housing market for 2018 is that the plunging Canadian dollar is bringing with it falling housing prices.

 The darkest of MacBeth predictions? That the real deals will come after foreclosures begin to become more common.

 “The best deals won’t appear until many people are forced to sell their properties,” he writes. “Lenders usually get the power to sell through foreclosure, so watch what the banks and other lenders do.”

 Taken from - http://news.buzzbuzzhome.com/2018/02/looking-buy-home-2018-expert-says-year-patience-will-rewarded.html

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