Metro Resale Snapshot: January 2016
Market Disparities Persisted in December
The overall sales trend in December was biased to the downside, with 14 of the 28 markets covered here registering a monthly decrease. Most of the dips were small; only 5 markets suffered a drop of at least 5 per cent. Data for Kitchener remains unavailable.
Still, listings increased in 17 markets between November and December, even with uneven sales. Calgary, St. Catharines, and Trois-Rivières saw particularly large listings hikes.
The fall in sales trimmed the sales-to-listings ratio between November and December in 17 areas. Balanced conditions prevailed in 16 markets. Vancouver, the Fraser Valley, London, and Windsor experienced sellers’ conditions last month.
Price advances remain red hot in Toronto and Southern B.C., but prices in other areas—notably Alberta, the Prairies, Northern Ontario,and Atlantic Canada—are weaker.
1 For real estate board area (except Newfoundland, which is province-wide).
2 Italics indicate per cent change. The second row shows the percentage change from the previous month; the third row from the year earlier.
3 Within one standard deviation of long-term average sales-to-new-listings ratio.
4 Includes Abbotsford.
Notes: All data are seasonally adjusted.
Sources: The Conference Board of Canada; Canadian Real Estate Association; Quebec Federation of Real Estate Boards.
About the Metro Resale Snapshot
The monthly Metro Resale Snapshot provides an overview of the existing home market for 28 areas and expectations for existing home price growth over the short term.