Buyer Confidence is Back

Despite it being a typically slow time of year, condo purchases haven't stopped. In fact, a significant percentage of lofts are now selling for asking price or higher. Of course there are properties that sell for below asking, but these tend to be properties that have funky layouts, dated kitchens and bathrooms, existing tenants, a terrible view, etc. Even then, they rarely go for too far below asking. Overall, home seekers and investors are feeling more confident about purchasing, and in downtown in particular. With interest rates still at historic lows and ever increasing rent prices, it's essentially more practical to buy, especially since your downpayment serves as instant equity. Something to think about.