Thursday, March 02, 2017

REBGV Sales Update Through February 2017

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

Sales have recovered and are now "average". Inventory is low. The result is a "lowish" MOI, which portends a decent spring in terms of price growth (not crazy but not weak either). Inventory growth is very low. Whatever is holding up owners from listing is exerting upwards pressure on the market. Attached housing (townhouse and apartments) is 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).

I see no evidence to suggest a significant slowdown will occur in 2017. That is not to say a significant slowdown won't occur, but I don't see any evidence supporting it.