Bianca Marijan

Broker of Record/Owner

Why is No One Selling Their House?

Hamilton Real Estate Market is stagnant with low inventory, high demand. 

So, why are homeowners reluctant to list their house for sale? 

Market as of Feb 2022 remains a strongly Sellers Market, with a mix of greed and a dash of frenzy.

Add to that Buyer fatigue, upcoming interest rates hikes, which will also increase the Stress Test Rates, we seem to be at a Mexican Standoff.

Well, here are a few reasons to the reluctance.

  • Uncertainty how the Economy will perform after we have used way too many ink cartridges to print money.

  • Uncertainty of the “remote work” accommodations will continue

  • Political uncertainty

  • Sellers don’t want to become Buyers and join the frenzy

  • Dire shortage of listings

  • Ontario- wide housing shortage

  • Sellers waiting for further increases of value to cash out and get out of Dodge, to Atlantic Canada, Costa Rica or Mexico, where they can be rich and affluent. And live worry free.

  • The Pandemic has kept people busy with maintaining sanity of themselves and their children as a  full time occupation.

  • Increases in lumber and building supplies up to 60% has kept homeowners unwilling to improve properties in order to list.

  • Fear. We are conditioned daily by propaganda machines disguised as Journalism, a long dead Noble profession, to be fearful, to fret and to stay in place paralysed. 

  • Inflation of a reported 5% (you can bet your kid it is well over ten percent). Rising prices and cost of living, utilities and gas are leaving Canadian families stretched

  • Loss of faith in Hamilton Council’s inertia, the inability to get anything done.

 

All that aside, if you want to make money, to stay afloat, you must keep moving (not a pun). Someone said that in order to get rich you must be making money while you sleep. Rich is a relative term. But security is defined solely by us.

If you’d like to get together for a conversation about real estate, security, stability, real estate investments, please give me a call. 

© 2021 Bianca Marijan | Build By Syche Tech