Market Update for Sept, 2018

(September 10, 2018 )

The housing market is setting record lows for the past 35 years.  Every month is a new bench mark for the worst sale totals in 35 years. As of Sept 10 we have had 220 homes sales for 2018. I project we will have less than 300 sales.  My charts go back to 1984, the worst year on record is 456.  We are miles behind that number.  The average homes sold per year since 1984 is 755 per year.  As for the condo and apartment markets we are along way off the worst market but the average sales per year is 262 and I predict  just over 200 this year.Prices in the housing end are down 25 - 30 %, condos have dropped 15 - 20%.  Prices are still falling and will continue for a few months more and then flatten out until the NDP are removed from power and the banks loosen up on qualify regulations.