If you're considering selling your home, Remax KEY real estate agent Hayley Poirier says now is the time to do it. If you're hesitant to sell because you're worried you may not have potential buyers, Poirier said that won't be an issue.

"I believe that there's been some messaging going out there that because of interest rate hikes that there isn't buyers wanting to buy and that's just not true. There are buyers out there looking to buy homes and properties in our area and there's just not enough inventory to support that."

"The banks make it sound like 'oh my gosh, it's kind of doomsday out there,' and that's really coming from messaging that you and I hear out of Ontario or out of BC, but in Alberta, real estate is booming."

While the selling market may not be as hot as it was one or two years ago, it's still most likely profitable to sell while the market remains in high demand. However, in the same way potential buyers are struggling to find homes, this also becomes a problem for sellers who would then become buyers themselves.

"There are sellers who don't know where they want to go, so they're going 'well wait a minute, we're willing to sell, but where are we going to go?' That's also got us a bit of a stall going on, which is kind of a a vicious cycle."

This second issue goes beyond the first problem of messaging, as this one ultimately comes down to a lack of supply as a whole. However, by having more people sell, it opens up the buyers market more, which in turn opens up the sellers market when they see people buying. As Poirier mentioned, it's a cycle that doesn't have a definitive start or end point. If this all sounds like a lot to take in, it's because it is, so Poirier recommends speaking to professionals about what's going on so you can get a good feel on what your situation would look like.

"A really great first step is to get ahold of your favorite realtor, find out what your buying power is. And then the next step is having a conversation with a mortgage specialist; If you need to bump up what your equity is to buy, now is a good time to talk to the specialists. Interest rates are higher, yes, but they've got ways of making that all work out for people that are interested in in getting back into the market."

Finally, another reason people may not be selling is that they are choosing to rent their property instead. Poirier says this isn't necessarily a bad thing though, as the rental market is also struggling so encouraging more rentals helps with availability as well.

With the Town of Strathmore listing increased housing and affordable housing as one of their key priorities, it's possible availability could increase to the point where housing shortages become a non-existent issue. However, since that isn't an immediate solution we shouldn't expect results in the near future, although Poirier believes having more sellers would end up benefiting all aspects of the current market situation.

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