June 2013 - Canada’s Summer market highlights

June 2013 - Hammer Home News
Dear Friends,

The summer is finally here! Wow it feels like it has taken a long time to get here. Not even really sure where Spring went, as it was a busy market but definitely a changing market.
 
According to statistics released on June 17, 2013 by The Canadian Real Estate Association (CREA), national home sales improved in May 2013, building on gains recorded  in the housing market over the previous two months.
 
Here are some quick national highlights:
  • National home sales rose 3.6% from April to May.
  • Actual (not seasonally adjusted) activity came in 2.6% below levels in May 2012.
  • The number of newly listed homes was up 1.9% from April to May.
  • The Canadian housing market remains firmly in balanced territory.
  • The national average sale price rose 3.7% on a year-over-year basis in May.
 The number of home sales processed through the MLS® Systems of real estate Boards and Associations and other cooperative listing systems in Canada rose 3.6 per cent on a month-over-month basis in May 2013, its largest monthly gain in almost two and a half years. What this means is that there were a lot more houses on the market this past May.
 
The increase lifted national activity almost to where it had been just before new mortgage rules came into force last summer, marking the first noteworthy increase in the past nine months.
Home sales improved in two-thirds of all local markets in May. This list encompasses almost all large urban markets including Greater Vancouver, Calgary, Edmonton, Winnipeg, Greater Toronto, Hamilton-Burlington, Kitchener-Waterloo, Ottawa, Montreal and Halifax-Dartmouth.
 
“The pop in Canada’s resale housing numbers adds one more to a series of upbeat economic indicators that exceeded expectations in recent weeks. It’s important not to put too much stock in one month’s worth of data, but taken together with other recently published economic gauges, Canadian resale housing market results provide further evidence of the widely anticipated firming trend for Canadian economy.”
 
The number of newly listed homes rose 1.9 per cent month-over-month in May. With a larger increase in sales than new listings, the national sales-to-new listings ratio rose to 51.4 per cent in May compared to 50.6 per cent in April. This measure has remained firmly rooted in balanced market territory since early 2010 and has held within short reach of 50 per cent since August 2011. Based on a sales-to-new listings ratio of between 40 to 60 per cent, two-thirds of all local markets were in balanced market territory in May.
 
The number of months of inventory is another important measure of balance between housing supply and demand. It represents the number of months it would take to completely liquidate current inventories at the current rate of sales activity.
 
Nationally, there were 6.4 months of inventory at the end of May 2013. This indicates that the national housing market firmed slightly compared to a reading of 6.6 months at the end of April. Provinces where the number of months of inventory declined include British Columbia, Alberta, Ontario, Quebec, New Brunswick, and Nova Scotia.
 
Folks, it is evident in Ottawa that we are in a very balanced market, homes are selling but not as quickly as they once did, although if a buyer loves the home and its priced fair it still can go quick!
Have a great summer everyone and hope to see you all soon!!!!
 
Sincerely
 


 


This Month's Trivia Question:

What is one of the most common ways for making the interior of a home more appealing to buyers?

The first five individuals to respond correctly will win a $10.00 gift card to Starbucks. Email your answers to rachel@rachelhammer.com



Last Month's Trivia Question:
 
What three things are necessary in order to purchase a home?

The Answer was: Some cash, a dependable income and good credit.  If you fall short, don't despair as home ownership may still be possible!

Congratulations to:
Since noone got all the answers correct... Noah, Pat, Chantal, Jane and Melanie were the first five to attempt to answer last month and win a $10.00 gift card to Starbucks.

Feature Listings
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32 - 3691 Albion Road


Charming 3 Bedroom 2 Bat end unit condo in truly move in condition.  Freshly painted, brand new berber carpets, hardwood in the bedrooms, very spacious bedrooms with a walk in closet in the master bedroom...

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63 Tiverton Drive

Great value in this freshly painted semi-detach with all the right finishes. Hardwood and tiles throughout (no carpeting), spacious living/family room, open concept bright kitchen, main floor laundry/mud room conveniently located beside back door to large private backyard.

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8-510 Stonefield Private

Bright and spacious LEED certified condo, approx. 1095sqft, 2 bedroom, 2 bath and den. Built 2010, Brio II model sunny southeast facing top floor end unit.

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Rachel Hammer, Broker
www.rachelhammer.com


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