daveto
Active Member
6,564 sales at a $420k average
http://www.torontorealestateboard.c...et_news/news2010/pdf/nr_market_watch_0710.pdf
http://www.torontorealestateboard.com/consumer_info/market_news/mw2010/pdf/mw1007.pdf
Lowest July full month sales since 2004 have been 7,082 in 2006, and have averaged at 8200 for 2004-2009. So at 6,600, sales are 20% below the 5 year average.
http://guava.ca/
Since Oct of 2009, here are the yoy changes by month from 2 years prior (I go 2 years back to avoid the distortion from the dramatic Oct 2008 drop)
+7% Oct 2009
+6% Nov 2009
+4% Dec 2009
+9% Jan 2010
+13% Feb 2010
+14% Mar 2010
+10% April 2010
+12% May 2010
+10% Jun 2010
+13% July 2010
As can be seen, despite the lower demand in July, prices and price changes are comparable to earlier in the year. The question will be whether July 2010 was a low sales anomaly, or whether the lower demand is the new normal ( in which case price drops will follow.) Likely the jury on this will remain out until we start to see late fall figures.
http://www.torontorealestateboard.c...et_news/news2010/pdf/nr_market_watch_0710.pdf
http://www.torontorealestateboard.com/consumer_info/market_news/mw2010/pdf/mw1007.pdf
Lowest July full month sales since 2004 have been 7,082 in 2006, and have averaged at 8200 for 2004-2009. So at 6,600, sales are 20% below the 5 year average.
http://guava.ca/
Since Oct of 2009, here are the yoy changes by month from 2 years prior (I go 2 years back to avoid the distortion from the dramatic Oct 2008 drop)
+7% Oct 2009
+6% Nov 2009
+4% Dec 2009
+9% Jan 2010
+13% Feb 2010
+14% Mar 2010
+10% April 2010
+12% May 2010
+10% Jun 2010
+13% July 2010
As can be seen, despite the lower demand in July, prices and price changes are comparable to earlier in the year. The question will be whether July 2010 was a low sales anomaly, or whether the lower demand is the new normal ( in which case price drops will follow.) Likely the jury on this will remain out until we start to see late fall figures.