statistics: How's the Market? - 05/21/08 11:36 AM
It's  a simple question with no one simple answer.  The state of the market depends on what you're comparing it to:  yesterday, last week, the previous month, the same month a year ago, year to date vs the same period last year, etc.  2007 was unquestionably a phenomenal year (lots of records broken). 
Tip: present the person asking with relevant macro and micro perspectives of the market.
Lies, damn lies, and statistics.  Among the junk mail marketing material I receive (i.e., I live in a newer subdivision being farmed by several agents), there's a team that sends out periodic market reports … (2 comments)

statistics: New Housing Prices Continue to Increase - 04/14/08 09:06 AM
In February, new housing prices continued to increase but at a slower pace from the previous two months.  Nationally, the index was up 6.2% over February 2007 with higher material costs, labour shortages (thus, higher labour rates), and land development costs cited as factors.
In Ontario, the year over year increases for new homes were moderate:
Toronto - Oshawa: up  4.4%Hamilton: up 3.6% compared to double digit increases in Saskatoon (58.3%), Regina (28.6%), Edmonton (14.8%), Winnipeg (14.5%), St. Johns (12.2%), and Halifax (11.4%).
References:
New Housing Price Index (StatsCan)  … (0 comments)

statistics: Non-residential construction pace continues - 04/14/08 08:44 AM
For the first quarter of 2008, Ontario posted a 3.1% quarterly gain in non-residential construction (2nd only to Alberta) with investment rising to $3.8B.  Toronto and Hamilton led municipalities in investment growth (by dollar value) at $1.9B and $166M, respectively.  Investment in terms of components, provincially:
commercial/office up 1.9% to $2.2B (largely attributed to growth in retail and wholesale trade)industrial up to $600Minstitutional up 5.0% to $1.0B (mostly in health care facilities)References:
 Investment in non-residential construction (StatsCan) … (0 comments)

statistics: US Home Sales - National Stats for July - 08/28/07 02:04 PM
We're getting a mixed bag of news. The Bank of Canada is now unlikely to hike rates Sept 5, as it continues to watch the spillover effects from south of the border. The U.S. Commerce Dept. (through the U.S. Census Bureau) reports home starts and building permits were down. Then NAR said existing home sales were relatively stable for July (a 0.2% decline after seasonal adjustment). And today, Standard & Poor's is reporting a 3.2% drop in home prices for the second quarter, with no end in sight for the decline on their nationwide housing index. Sources: U.S. home starts, building … (0 comments)

statistics: U.S. - New home sales up - 08/24/07 10:29 AM
The Commerce Department reports new home sales up 2.8% in July, after falling 4% in June. Small comfort given year-over-year sales have slumped about 10%. Sept 18th is the date to watch -- will the Federal Reserve cut the overnight rate? Source: U.S. New Home Sales Rise in July (Globe and Mail) … (0 comments)

statistics: Condo sales explosion - 08/24/07 10:03 AM
The Building Industry and Land Development Association (BILD) -- formerly the Greater Toronto Home Builders' Association -- weighed in on the RealNet's information release for July new home sales. Interesting observations and stats: Sales of Low rise vs High rise units nearly even (compared with 65/35 split 5 years ago) 89.6% growth (July 2006 vs July 2007) in GTA high rise sales New home sales up 15% year-to-date (vs same period last year) Sources: New home, high rise close: officials (National Post) Condo sales explode to record summer highs (CTV) … (0 comments)

statistics: Strong resale activity for Toronto and Canada - 08/18/07 12:02 AM
The statisticians are weighing in with their latest reports, and real estate resales in Toronto and Canada are far from the doom-and-gloom now shaking up the stock market (i.e., a broad market correction). For the first half of August, the Toronto Real Estate Board reports resale transactions are up 17% from the same period in 2006. Meanwhile, days on market (DOM) is down to 32 days (from 38 days). The Canadian Real Estate Association finds a 13.1% increase in the average sale price of a home (in the country's 25 largest markets), year over year. Similarly, year-to-date unit sales are up … (0 comments)

statistics: Housing Markets Divergence - 07/26/07 12:58 PM
Resales in Canada are breaking records with home prices up almost 10% over the past year. In contrast, the national picture in the US isn't as rosy, with resales near a 5 year low and new home sales down 6.6%, with much of the blame pointed at the sub-prime mortgage market. It's a troubling picture for consumers on both sides of the border, given the economic ties between our two countries. Buyers are hesitating. Investors are hovering like bottom feeders and vultures. Sellers are worried. Interesting times. Source: "The Canada-U.S. housing divide" (CBC) … (1 comments)

statistics: U.S. Prices Up, Sales Down, Loan Demand Drops - 07/25/07 11:11 AM
Real estate really is local. But contrary to what some say, I don't believe you can entirely ignore national stats. The broader market does weigh in psychologically on consumers. Interestingly, while CREA reports numbers up overall for Canada, NAR is reporting U.S. sales down, paralleling a statement from the Mortgage Bankers Association that reports a decline in mortgage applications. Sources: Prices Rise, Existing-Home Sales Decline in June (NAR) U.S. home loan demand drops to 5-month low … (3 comments)

 

Anthon Pang

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Toronto, ON

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