The frenetic energy of the Niagara real estate market of the past couple of years is gone – and Buyers have gone from panic-buying to… NOT buying at all! We saw the signs last Spring as our phones stopped buzzing every two minutes and went virtually silent in a matter of weeks. Suddenly agents were saying their buyers were going to “hold back” and “keep looking”. The mode turned from frantic to completely hesitant – from Trigger Happy to Gun Shy. And now as we head into the end of 2022, we’re seeing all the features of a heavily weighted (and pretty deserted) Buyer’s Market: few showings, quiet Open Houses, and the ol’ Sale of Property condition! It’s ghosty out there. And it’s got us agents pretty shook. But – on the other hand, there are signs of change ahead!
Here’s what buyers are doing and what agents in Niagara are saying about it, and when to expect things to turn around.
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