Resale Markets Firm Slightly in October
Metropolitan Monthly Monitors: Metro Resale Index November 2010
Metropolitan Monthly Monitors: Metro Resale Index November 2010
Urban City Economic Analysis
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- Resale volumes continued to improve modestly in October, with sales coming in above their September levels in 16 of our 28 markets.
- Sales were below their October 2009 levels in 27 of 28 markets. (However, the pace of sales in October 2009 was unsustainably high.)
- Soft markets have kept sellers on the sideline, cutting October listings from their month-earlier levels in 19 markets and from a year earlier in 15.
- The recent rise in sales, combined with the continued declines in listings, led to a rise in the sales-to-listings ratio in 20 markets on a monthly basis in October. Only one market—Québec City—remained a “buyer’s” market in October, down from four in September.
- The slight tightening in markets led to rising prices on a month-over-month basis in 17 markets. However, prices were below year-earlier levels in four markets.
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