Quote:
Originally Posted by newts
Creb just sent out Sept. stats. Sales for single family up 10% vs. August, but still down vs. prior year. This would likely coincide with your increased closings for October. First uptick in sales since April.
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Here's the full month end stats from Mike's site...
http://www.findcalgary.ca/listings?p...=127&pageId=19
Single Family Homes
The uptick in September sales is pretty notable, because as a general rule, September usually has less sales than the summer months.
And for Condos...
Overall, kind of a mixed bag for the bears and bulls.
Bob Truman has a stat that he calls the 'Crash/Confidence Index'. Basically it compares the ratio of Sales to New Listings versus the historic average over the past 9 years...
I haven't seen any evidence that it can actually 'predict' price declines or increases, but it's kind of a nice stat, because it takes seasonality into account, ie only comparing September sales to September sales.
And it gives a good idea of how things are looking compared to long term averages. You can see from this stat that things certainly don't look *great* for the Calgary market at the moment, but they also don't look as bad as the spring and early summer.
cM