Updated Dec 22
| Dec 2014 |
Dec
2013
| ||||
| Wk 1 | Wk 2 | Wk 3 | Wk 4 | ||
| Unconditional Sales | 112 |
198
| 306 |
355
| |
| New Listings | 148 | 271 | 348 |
437
| |
| Active Listings | 3455 | 3406 | 3301 |
3554
| |
| Sales to New Listings |
76%
| 73% | 88% |
81%
| |
| Sales Projection | -- | 455 | 469 | ||
| Months of Inventory |
10
| ||||
We won't be hitting the estimate as sales will drop off significantly at the tail end of the month. Likely closer to 400. Some signs of a slowdown with the Teranet composite down 0.3% in November with many cities showing a decline, including yours truly. CMHC also continues to tinker, hiking fees to insure mortgage backed securities by up to 200%.
Update: A while back there was some chatter about the appreciation rates of condos and single family homes. I would think that since "they ain't making any more land", the appreciation rate for condos would lag that of SFHs. So I took a simplistic look at the appreciation rates for both over all 5 year periods over the last 25 odd years and here's the result.
The rates are closer than I thought, but there definitely is a difference between the two. Average 5 year appreciation is 38% for SFHs, and 32% for condos (or ~1% a year). I would suspect that a re-sale based index would show a somewhat wider difference.
The condo market is also a bit more volatile, with a range from a 20% drop over 5 years to a 128% increase, while SFHs have ranged from a drop of only 7% to an increase of 109%.
