Weekly stats update courtesy of the VREB via Marko Juras.
|Wk 1||Wk 2||Wk 3||Wk 4|
|Sales to New Listings||75%||81%||
|Months of Inventory||
Looks like we might just crack 1000 sales in July. That last happened… never.
From this week it seems the last was unduly affected by the long weekend. Now sales are back to previous levels and show no particular weakness. Inventory also continues to melt, so likely any significant weakening of the market will not be until next spring.
It will be interesting what the next round of regulatory tightening brings. Qualifying rates for terms under 5 years were raised a couple weeks ago and the OSFI has already indicated there are changes coming. As I’ve said before, the regulatory environment is the wildcard that can make or break this market, and right now all levels of government are either making changes, planning changes, or gathering data (badly) on what changes to make. What will be interesting is whether they the combination of the tweaks turns into something bigger.