Market update Oct 2014

“Two consecutive years of relatively strong employment and population growth, combined with rising wages and low lending rates, have supported demand growth in our housing sector,” said CREB® chief economist Ann-Marie Lurie.

Inventory vs sales and price2

“All citywide resale segments have recorded a moderate easing of supply constraints, which should help stabilize prices as we approach the end of the calendar year,” said Lurie. “Nonetheless, consumers should be aware that market conditions can vary significantly depending on the location and property type.”

In Oct, 16% of homes sold for list price or higher.

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