Markets Mostly Stable in August
Metropolitan Monthly Monitors: Metro Resale Index September 2011
Metropolitan Monthly Monitors: Metro Resale Index September 2011
Urban City Economic Analysis
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- Resale volumes were mixed in August, with sales rising in half of our 28 areas, including 8 in which the hike was at least 5 per cent. Transactions were above year-earlier levels in 24 markets.
- While new listings fell between July and August in 17 markets, most declines were small. And on a year-over-year basis, listings were up in 25 jurisdictions.
- August’s sales-to-listings ratio was higher than July’s in 15 markets. Still, market stances were largely unchanged. We estimate that 24 of our markets are in a “balanced” state, compared with 23 in July.
- Balanced markets are tempering price advances. Monthly price declines were actually recorded in 15 jurisdictions in August. But prices were still above year-earlier levels in 21 of 28 markets.
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