28 September 2012
Such results come in line with the average of the monthly seasonally adjusted annual rate.
The number of new housing units remained stable this year, showing a healthy market demand for newly constructed homes.The stock of new and unoccupied single or semidetached houses fell to 5,783 last month, remaining in 5,500-6,200 range of 2011. In July there were 5,865 homes of these types. In the same time, the inventories of new row and apartment units were up from 12,473 units in July to 12,642 in August, again within the 2011 limits of 12,600 and 14,200 units.
CMHC suggests that a resale market remains in quite a balanced state. The sales-to-new-listings ratio shows what price pressure the existing real estate market faces.Meanwhile, new listings are considered to be an indicator of the existing homes market supply. And MLS® sales reflect the current demand. The sales-to-new-listings ratio stayed balanced in August, because the decline in MLS® sales was higher than a decrease in the new listings. As a result, the Canadian sales-to-new-listings ratio fell to 51.0 % from 53.1 % in July. The CMHC’s report says that real estate market conditions remain in the balanced territory.