Wednesday, May 03, 2017

REBGV Sales Update Through April 2017

REBGV released their stats package through April 2017. Here are the numbers:






Sales have recovered and are now "average", but nowhere near the levels seen in 2016. Inventory is low and new listings have recovered in recent weeks. The result is a low MOI (months of inventory), which portends a decent spring in terms of price growth, and the MLS-HPI appears to be bearing this thesis out. A long stretch of robust new listings is required to allow low inventory to recover and it appears that new listings have returned to the point where that can start slowly occurring.

Attached housing (townhouse and apartments) continues to be stronger than single detached housing in terms of price strength as measured by the change in the MLS-HPI (see link at beginning of this post). The closing of the gap between housing types was reasonably expected in the wake of detached housing prices having had accelerated in previous years.

I expect new listings to occur at an average pace over the coming few months and inventory to grow; I was surprised by the persistence in the dearth of new listings but I also think it's a temporary phenomenon: supply is coming.

4 comments:

ryan said...

Please could you update the charts for June?

Water Edge Condos said...
This comment has been removed by a blog administrator.
jesse said...

I'll put in a July post at some point. Sorry, things slow down in the summer :)

Dr Purva Pius said...

My Brothers and Sister all over the world, I am Mrs Boo Wheat from Canada ; i was in need of loan some month ago. i needed a loan to open my restaurant and bar, when one of my long time business partner introduce me to this good and trustful loan lender DR PURVA PIUS that help me out with a loan, and is interest rate is very low , thank God today. I am now a successful business woman, and I became useful. In the life of others, I now hold a restaurant and bar. And about 30 workers, thank GOD for my life I am leaving well today a happy father with three kids, thanks to you DR PURVA PIUS Now I can take care of my lovely family, i can now pay my bill. I am now the bread winner of my family. If you are look for a trustful and reliable loan leader. You can Email him via,mail (urgentloan22@gmail.com) Please tell him Mrs Boo Wheat from Canada introduce you to him. THANKS