SFH dropped an astonishing 6% MOM. 1134K to 1064K.
SFH prices are now up less than 2% YOY and Apartments are up 1% YOY. RE is now lagging inflation and even GICs!
SFH Inventory is up 17% from last December, while sales are DOWN 17% from last year.
This could be it boys and girls!
Here's what I said earlier in December
.. we could see it drop down and if so it could be quite precipitous. It is far too tough to call, we will have to wait for the data.
MOI for SFH = 7.5
MOI for apartments = 6.6
MOI for attached = nearly 8