Weekly stats update courtesy of the VREB via Marko Juras.
|Wk 1||Wk 2||Wk 3||Wk 4|
|Sales to New Listings||81%||80%||
|Months of Inventory||
No noticeable impact from the mortgage rule changes yet, but they just went into effect today. We are still tracking 9% ahead of last year’s sales rate and that combined with 40% less inventory that still makes the market ridiculously tight. I would expect moderation in the coming weeks at least in the lower end of the market as some of those buyers that were stretching for a sale adjust their expectations.