As of August, single family home prices in the Qualicum Beach Parksville area are down 8% over this time last year. Interest rates are at all time lows. After a prolonged period of focus on Euro-zone debt, global confidence in the economy is cautiously maintained. This could be a very good time to buy.
Media reporting often highlights the Vancouver and Toronto real estate markets and their skyrocketing home prices. At some point, there may be a price correction in those markets. It is important to keep in mind our own local market conditions. Here, it is a great time to be a buyer. Sales of real estate in the Qualicum Beach Parksville area have been slower this year meaning there's quite a bit on the market to choose from. Sharp overall pricing and motivated sellers means buyers are getting some very good deals. A trend in this post-recession period (it's been four years now) is for people see their home much more as an investment than they did in the past, much like mutual funds and stocks. It is important to remember that your home is, after all, a place to live and fulfill whatever personal needs you have. Another trend is the move towards less, being more. Buyers have been wanting smaller homes than in the past. Suites for aging parents are likely to become more important for aging boomers.