Markets tread water in July.
Metropolitan Monthly Monitors: Metro Resale Index August 2011
Metropolitan Monthly Monitors: Metro Resale Index August 2011
Urban City Economic Analysis
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- Resale volumes posted mixed results in July. Sales fell in 16 of our 28 areas, but were down 5 per cent or more in only 5 markets. Transactions surpassed their July 2010 levels in 23 regions.
- New listings at the monthly level were almost evenly mixed, with July listings up in 13 markets and down in 15. Year-over-year patterns were more decisive, as listings exceeded year-earlier levels in 25 areas.
- Sales-to-listings ratios eased in 16 markets in July, but that did little to upset market stances. We estimate that 23 of our markets are in a “balanced” state, compared with 24 in June. Ratios exceeded year-earlier levels in 20 markets.
- Stabilizing markets trimmed month-over-month price growth in 16 areas, with prices actually dipping in 14. But prices still grew on a year-over-year basis in 20 of 28 markets.
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