Balnced Market Soon?

2011 has been a transition year for sure.  Coming off of string buyer market conditions we are beginning to see signs of balanced market conditions.  However we're not fully there yet.  Not all price ranges are displaying the same market conditions and regionally the hyper local real estate markets are vastly different.  For now I'll be focusing on Red Deer. November 2011 is seasonally a slower month.  Here is a closer look at the trend with New Listings: Compare that to the Sales trend: So in summary, No we're not quite balanced yet.  We are much closer than last year and headed that way.  Typically a balanced market is characterized by displaying listing to sale ratios 60 - 75%.  The Sales to Listing ratio trends the last few years has been: It's interesting to see the positive trend to finish the year.  A strong finish is god and typically sets the pace for how the new year will trend.  Are you still on the fence with your real estate purchase decisions?  It can be distracting to follow global economic markets.  Real estate markets are a direct reflection of the economy as without strong employment and wages house sales simply do not occur. The impact of the economic downturn and the impact increasing listing inventory has had might best be seen as a linear chart like below: Your Friend in Real Estate, Patrick Galesloot twitter:  @pgalesloot

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