I just recently received a report for the Teranet-National Bank House Price Index indicating that house prices were up 1.5% in June. Keep in mind, this index is not the same as the average price, but rather and index that tracks the performance of house prices nationally, an index very similar to the Case-Shiller Index in the States.
The report indicated, that the June numbers, at a national level continued the best string of consecutive monthly price increases since October 2006 bringing
As we look at the numbers for the July sales figures for Guelph Real Estate sales, we continue to see the pattern heading towards a balanced market.
On a month to month basis, the dollar volume is down almost 20 percent, unit sales down almost 30 percent and the active listings up 10 percent. The average price is still holding its increase just short of 12 percent.
On an annual basis, comparing numbers to the same time period last year, we see a very different picture.
Last Friday shorthly after the Canadian job report was released, I received a report from the National Bank siting that Canada may have no choice but to raise interest rates in the coming months. The report indicated that with the jobs created in June, the level of total employment reached it's pre-recession peak. The report sites this in contrast to the US still being 5.4% blow peak levels.
The report indicated that the year-over-year growth rate in employment in Canada is now more
Well, here they are, the Guelph Real Estate Statics for the first half of 2010 and what a first half it was. As always, looking at the month to month comparison from June of 2009 to June 2010, the number were actually quite interesting. The dollar volume of sales were down 16 percent and the number of units sold were down almost 30 percent. However, the average price was up almost 20 percent from comparing June of 2009 and June 2010. Astonished I think is the correct word to use here!
When reviewing the Guelph Real Estate Sales for May 2010, we can definitely see a trend as the market moves more towards a balanced state. Each month this year, we have seen the inventory levels slowly rise indicating that buyers have more choice and don’t have to worry about the “bidding wars” and “Buyer frenzies” that plagued the market earlier this year. Buyers can take a bit of a breather and make educated decisions as to what they want to purchase and what suits their needs. This may not sit
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