Modest Firming In Global Housing Markets Through Mid-year: Scotiabank

Activity in British Columbia remains on the softer side despite some recovery in sales and pricing in recent months. In most other provinces, sales volumes are fairly ‘typical’ and market conditions balanced. Buyers are taking advantage of still attractive borrowing costs, notwithstanding the recent upward drift in fixed mortgage rates. Indeed, the prospect of rate increases may have drawn in potential homeowners from the sidelines.
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County housing market brisk

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This represents the amount of time it would take for homes on the market to be sold at the current sales pace. Real estate agents consider a six-month supply of homes for sale to be a balanced market with supply and demand about equal. If there is less than a six-month supply, the market is generally considered to favor sellers; more than six months, it is considered more of a buyers market. Lane Countys housing market began shifting from a buyers market to a sellers market in the summer of 2012. After ticking up to a 6.8 month-supply in January of this year, the supply of homes has been below six months every month since then, and below five months since March. New listings in Lane County soared in August by almost one-third when compared with the same month in 2012 but were flat compared with July of this year.
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