Last year when prices in Edmonton rose close to 50% first time buyers were afraid they would never be homeowners. The frenzy that resulted in "conditionless" contracts, bidding wars and listings on the market for mere days left a lot of people feeling out of control in their buying. The attitude was buy it now or never see that chance again.
However since the market has cooled a little buyers can take there time picking a choosing deals. They can have terms that protect them or help them buy more easily.
"With the best selection of homes listed for sale in years, entry-level buyers have the luxury of time on their side,...""No longer forced to act in haste, first-time purchasers can make offers conditional on financing and home inspections." RE/MAX
We are certainly able to pick and choose the properties we are buying now and with better terms and a lot of room for negotiation. It's a nice time to buy.
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