Listings Decline, but Modest Sales Gains Tighten Markets in November
Metropolitan Monthly Monitors: Metro Resale Index December 2011
Metropolitan Monthly Monitors: Metro Resale Index December 2011
Metropolitan
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- Resale transactions stabilized in November. Sales rose from October in 16 of our 28 markets, but only 7 areas posted gains of 5 per cent or more. Sales were above year-earlier levels in 15 areas. That’s down from October when 23 markets enjoyed year-over-year growth.
- The supply of new listings fell in 23 of 28 markets in November, but still exceeded year-earlier levels in 20 jurisdictions.
- An easing in supply of listings, combined with slightly weaker sales gains, lifted the sales-to-listings ratio in November in 23 markets. This left 4 areas as “seller’s” markets, while 21 remain “balanced.”
- Tightening markets produced accelerating price growth in 17 areas in November. Prices were up from their year-earlier level in 19 markets, and 4 per cent growth or higher was recorded in 16 markets.
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