MLS numbers courtesy of the VREB via Marko Juras.
Month to date November 2010 (last week's month-to-date totals in brackets)
Net Unconditional Sales: 435 (333)
New Listings: 665 (552)
Active Listings: 3,658 (3,737)
November 2009 totals
Net Unconditional Sales: 604
New Listings: 796
Active Listings: 2,973
SFH average price currently stands at $659,336. Doubtful we'll see sales volume numbers matching November 2009 totals, however, it's a given that November's volumes aligned with the October improvement from the terrible numbers reported in August and September. Average prices remain skewed by low sales volumes, however, SFH with suites priced under $500K continue to sell quickly with even a few competitive offering situations for the ones tucked off the busy streets. This appears to be a market that doesn't know where it's going into 2011.
Update: Let's play a little game
Mark linked to a story where TD Bank's Ed Clarke mused about lowering the maximum amortization length from 35 years to 25 years (effectively taking us back 10 years or so in the mortgage insurance industry). He thinks this will prevent a bubble from forming. For the sake of arguments, let's not get into the bubble talk (it's either here or it ain't) but let's assume that for the good of everyone, something needs to be done to put out the fire under the real estate market (there really isn't one, but you could be forgiven for thinking there might be). What to do? I say if you really want to end the era of "free cash" get rid of the CMHC. There should be no more mortgage insurance for banks in Canada. If you want to end the endless cycle of people taking on debilitating debt loads: STOP PROTECTING THE BANKS FROM THEMSELVES.
Add your suggestions in comments.