Widespread Sales Gains Amid Slowing Price Growth in June
Metropolitan Monthly Monitors: Metro Resale Index July 2011
Metropolitan Monthly Monitors: Metro Resale Index July 2011
Urban City Economic Analysis
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- Resale transactions were broadly higher in June than in May. Sales rose in 20 of our 28 markets, with 14 posting gains of 5 per cent or more. Volumes exceeded their year-earlier level in 23 markets.
- New listings also posted general gains. June listings exceeded May’s in 19 markets, with 10 showing a rise of 5 per cent or more. June’s listings were above year-earlier levels in 15 areas.
- Despite the rise in sales, generally faster listings growth trimmed the sales-to-listings ratio between May and June in 15 of our 28 areas. June’s ratio exceeded its year-earlier level in 19 locations. We estimate that 24 of our markets are in a “balanced” stance.
- In Vancouver, while annual gains remain large, price growth decelerated for the second straight month. Slowing also took hold in 17 other markets. But prices grew on a year-over-year basis in 26 of 28 areas.
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