November Sales Broadly Higher
Metropolitan Monthly Monitors: Metro Resale Index December 2010
Metropolitan Monthly Monitors: Metro Resale Index December 2010
Urban City Economic Analysis
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- Resale activity continued to firm in November, as sales rose from October’s pace in 24 of our 28 markets. Volumes declined only in Trois-Rivières, Saguenay, Saint John, and the province of Newfoundland. Sales remained behind November 2009 levels, however, in 19 markets.
- Better sales activity is attracting vendor attention. November listings were up in all but 3 markets on a monthly basis, a big improvement from October when listings fell in 19 jurisdictions. Listings remain behind year-earlier levels in 16 areas.
- Sales-to-listings ratios rose in 20 markets between October and November, which also suggests a stabilization. While most areas are balanced, November saw two markets in the “seller’s” position, up from one in October.
- Ongoing market tightening has led to rising prices on a month-to-month basis in 17 markets and accelerating monthly price growth in 13 markets. Nonetheless, prices trail year-earlier levels in six areas.
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