Modest Market Tightening Fuels Continued Price Growth
Metropolitan Monthly Monitors: Metro Resale Index February 2012
Metropolitan Monthly Monitors: Metro Resale Index February 2012
Urban City Economic Analysis
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- Resale transactions slowed in January. Sales fell from December in 20 of our 28 markets, with dips greater than 5 per cent in 15 areas. Nonetheless, sales remained above year-earlier levels in 14 areas.
- The supply of new listings dropped in 15 jurisdictions between December and January and was below year-earlier levels in 14 markets.
- Despite the widespread sales declines, the sales-to-listings ratio rose in 10 markets between December and January. This left 4 areas with sellers’ conditions, 3 with buyers’ conditions, while 21 of our markets remain “balanced.”
- Such market strengthening improved price growth or slowed price declines in 19 areas between December and January. Prices were up from their year-earlier level in 22 markets with 13 markets registering at least a 4 per cent gain.
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