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Originally Posted by chemgear
We're a week into June and SFH inventory is sitting at 5902 versus 5649 at the end of May. It's only 7 days but average adds per day is around 35ish. Sales a bit slower paced than May as well. Prices a bit steady/up so far.
To compare, max Calgary inventory peaked out at 7099 in May 2008. At this pace (which I'm guessing won't be maintained) we'll get there in about another month.
http://www.findcalgary.ca/page_content-19.html
Has the details and condo numbers too. It's a nice site to hit up in the morning.  |
Another good place for stats is on Bob Truman's site...
http://www.bobtruman.com/SFH_DailyMo...e_1869385.html
http://www.bobtruman.com/Absorption_...e_2184951.html
^^ Absorption rate by price range an interesting stat
The inventory growth seems to have kind of slowed, at one point we were on pace to hit 6,000 by the end of May. It dropped fairly significantly near the end of May, likely a lot of delistings. But as you noted, quite a few in June have been added already. Another month of 35/day would be fairly significant.
Some other articles...
http://edmontonhousingbust.com/2010/...es-to-plateau/
^^ Arrears rate plateaued in March for Alberta
http://edmontonhousingbust.com/2010/...bers-are-in-2/
^^ Analysis of the May numbers. It's for Edmonton, but most of the conclusions seem to be identical for Calgary.
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The May resale numbers came out today, and they continue to sing the tune of a market changing direction. Sales slowed, inventory continued to build and the only demand appears to be for high end homes as other than the SFH average, prices were down across the board.
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On the price front, all the hype of late about activity at the high end is quite true. It’s not too hard to see there is such goings-on when the single family home average is up over $5,000, while the median is down $7,000. Seems those taking the plunge, are going big.
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Our SFH median AND average were both up in May. Basically, while virtually all signs point to lower prices, it has not lead to lower prices. "The market can stay irrational longer than you can stay solvent". - Keynes.