After a record-breaking year for home sales in 2020, the president-elect of Greater Moncton Realtors believes home prices will continue rising in 2021.
Ryan Davison says the region has been seeing an incredible home price appreciation.
No one has a crystal ball but Davison says a number of factors are still at play.
“From what we can see, with the inventory nationally being low and the inventory here is definitely low as well, we’re seeing an appetite from buyers that are looking to secure that.”
Davison says interest rates are still very low and buyers from outside the region are finally discovering our lower home prices.
The pandemic has actually become a major factor in buying a home these days.
“People are spending more money in their homes, spending more time in their homes and they are reevaluating their homes because it’s become a reality that you could be in that home for considerable periods of time.”
Davison adds Greater Moncton is finally making up some ground after being undervalued compared to the rest of the country.
