Markets Calm in December
Metropolitan Monthly Monitors: Metro Resale Index January 2011
Metropolitan Monthly Monitors: Metro Resale Index January 2011
Urban City Economic Analysis
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- Resale activity moderated in December. Sales were higher than in November in 13 of our 28 markets, but remained below year-earlier levels in 26—often by a wide margin.
- Supply is stabilizing. While December listings were down month-over-month in 15 markets, they were off more than 5 per cent in only 5. Still, listings trail year-earlier levels in 16 areas—and by more than 10 per cent in 12.
- The sales-to-listings ratio rose between November and December in 15 markets, but was below the December 2009 level in 20. Most areas are balanced, but December had three “seller’s” markets—up from two in November.
- Such modest firming prompted monthly price growth to accelerate in 13 markets in December. Although values lag year-earlier levels in 8 areas, they are up more than 10 per cent in 11.
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