Buyers Market Vs Sellers Market – Terminology Defined
Several factors influence the housing market, including mortgage interest rates, inflation, employment, investment, construction, immigration, government assistance programs, and the health of local and world economies. All of these influence the supply and demand of the market which, in turn, affects prices.There are three classifications experts use to describe the balance of supply and demand in the housing market:
A seller’s market is when there are more people looking to buy then there are homes available. This causes a rise in price above the long-term average rate of inflation.
In contrast, a buyer’s market is when there are many more homes for sale than there are buyers. As a result, prices increase slower than the long-term average rate of inflation. In extreme circumstances this can cause prices to decline.
A balanced market occurs when supply and demand are about the same, with home prices rising in line with long-term average rate of inflation..
Alberta Summer Tip
Brace Yourself for Wind or Hail
If there’s a storm brewing, keep up with its progress through local news or weather channels. If you are told to evacuate or take cover, do it.
Protect yourself and your property by taking these steps:
1 Secure all glass openings (windows, sun roof) to limit additional damages.
2 Make sure outdoor furniture and fixtures and all vehicles are brought in to prevent them from being damaged.
3 Stay away from glass windows and doors and seek refuge in an interior room with no windows.
4 Avoid using electrical appliances.
5 Take care of your pets: A storm can be a frightening experience, and they could injure themselves or injure you if panicked.
6 Do not light candles or lanterns – they could get blown over causing a fire.
7 Never go out during the storm – flying debris can cause severe injuries.
8 After the storm clears, and you come out, beware of downed power lines and gas leaks.
9 Stay away from heavily damaged areas. Listen to your radio for instructions.