{"id":10631,"date":"2018-10-24T10:10:08","date_gmt":"2018-10-24T17:10:08","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=10631"},"modified":"2018-10-17T14:57:59","modified_gmt":"2018-10-17T21:57:59","slug":"the-best-metric-for-tracking-the-health-of-the-housing-market","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/10\/the-best-metric-for-tracking-the-health-of-the-housing-market\/","title":{"rendered":"The Best Metric for Tracking the Health of the Housing Market"},"content":{"rendered":"

Canadian home sales took a tumble in September, inching back 0.4 percent from August and falling 8.9 percent from the same period last year.<\/p>\n

But according to one economist, sales numbers aren\u2019t the best metric for tracking the health of the market.<\/p>\n

\u201cSales activity may get all the press but it\u2019s the balance between that and the number of homes for sale that sets the tone for pricing environment,\u201d writes Gregory Klump, chief economist of the Canadian Real Estate Association (CREA), in its latest data release.<\/p>\n

Newly listed homes rose by 3 percent month-over-month in September, while the MLS Home Price Index was up 2.3 percent year-over-year. Roughly three-quarters of all local markets fell into what is considered \u201cbalanced territory\u201d by CREA \u2014 a sales-to-new-listings ratio between 40 to 60 percent.<\/p>\n

\u201cIn markets with an abundant supply of homes and slower sales activity, buyers have the upper hand when it comes to negotiations over price,\u201d writes Klump. \u201cHowever, in places where buyers are keen to make a purchase but there\u2019s a shortage of homes for sale, sellers are in the driver\u2019s seat when it comes to price.\u201d<\/p>\n

He adds that it will be interesting to see how the market responds to rising interest rates, given that more stringent mortgage rules were introduced in January.<\/p>\n

The current rising rate environment, which will almost certainly result in higher mortgage rates, could put a damper on the housing market. The Bank of Canada hiked the overnight rate to 1.50 percent in July, and is widely expected to do so again later this month.<\/p>\n

\u201cThe balance between the number of home buyers and suitable homes varies depending on location, housing type and price range,\u201d writes Barb Sukkau, president of CREA. \u201cDifferences in market balance will likely come into sharper focus as interest rates rise and cause this year\u2019s new mortgage stress-test to become even more restrictive.\u201d<\/p>\n

Forget Home Sales – This Metric Foreshadows Where The Canadian Housing Market is Headed<\/a> by Sarah Niedoba | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"

Canadian home sales took a tumble in September, inching back 0.4 percent from August and falling 8.9 percent from the same period last year. But according to one economist, sales … [read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-10631","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"\nThe Best Metric for Tracking the Health of the Housing Market • Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2018\/10\/the-best-metric-for-tracking-the-health-of-the-housing-market\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"The Best Metric for Tracking the Health of the Housing Market • Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Canadian home sales took a tumble in September, inching back 0.4 percent from August and falling 8.9 percent from the same period last year. But according to one economist, sales … [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/10\\\/the-best-metric-for-tracking-the-health-of-the-housing-market\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/10\\\/the-best-metric-for-tracking-the-health-of-the-housing-market\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"The Best Metric for Tracking the Health of the Housing Market\",\"datePublished\":\"2018-10-24T17:10:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/10\\\/the-best-metric-for-tracking-the-health-of-the-housing-market\\\/\"},\"wordCount\":338,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/10\\\/the-best-metric-for-tracking-the-health-of-the-housing-market\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/10\\\/the-best-metric-for-tracking-the-health-of-the-housing-market\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/10\\\/the-best-metric-for-tracking-the-health-of-the-housing-market\\\/\",\"name\":\"The Best Metric for Tracking the Health of the Housing Market • Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2018-10-24T17:10:08+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/10\\\/the-best-metric-for-tracking-the-health-of-the-housing-market\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/10\\\/the-best-metric-for-tracking-the-health-of-the-housing-market\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/10\\\/the-best-metric-for-tracking-the-health-of-the-housing-market\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The Best Metric for Tracking the Health of the Housing Market\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling & Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The Best Metric for Tracking the Health of the Housing Market • Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2018\/10\/the-best-metric-for-tracking-the-health-of-the-housing-market\/","twitter_card":"summary_large_image","twitter_title":"The Best Metric for Tracking the Health of the Housing Market • Rory C Real Estate | Oakwyn Realty","twitter_description":"Canadian home sales took a tumble in September, inching back 0.4 percent from August and falling 8.9 percent from the same period last year. But according to one economist, sales … [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2018\/10\/the-best-metric-for-tracking-the-health-of-the-housing-market\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/10\/the-best-metric-for-tracking-the-health-of-the-housing-market\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"The Best Metric for Tracking the Health of the Housing Market","datePublished":"2018-10-24T17:10:08+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/10\/the-best-metric-for-tracking-the-health-of-the-housing-market\/"},"wordCount":338,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"articleSection":["Market Updates"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2018\/10\/the-best-metric-for-tracking-the-health-of-the-housing-market\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2018\/10\/the-best-metric-for-tracking-the-health-of-the-housing-market\/","url":"https:\/\/www.roryc.ca\/blog\/2018\/10\/the-best-metric-for-tracking-the-health-of-the-housing-market\/","name":"The Best Metric for Tracking the Health of the Housing Market • Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2018-10-24T17:10:08+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/10\/the-best-metric-for-tracking-the-health-of-the-housing-market\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2018\/10\/the-best-metric-for-tracking-the-health-of-the-housing-market\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2018\/10\/the-best-metric-for-tracking-the-health-of-the-housing-market\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"The Best Metric for Tracking the Health of the Housing Market"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling & Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/10631","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=10631"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/10631\/revisions"}],"predecessor-version":[{"id":10632,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/10631\/revisions\/10632"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=10631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=10631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=10631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}