Friday, May 04, 2018

REBGV Sales Update Through April 2018

REBGV released their stats package through April 2018. Here are the numbers:

Sales are markedly weaker than last year, led by a significant drop in detached sales. Attached and apartment (i.e. condo) sales are still alright, but not as robust as last year (which was a very good year for sales, so we shouldn't lose that perspective!)

New listings are now quite robust and inventory growth has picked up.

I suggest that the market has cooled off compared to the past three years and I see no signs that will change anytime soon. It is unclear how much cooling will occur.