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January 2016

Found 1 blog entry for January 2016.

Elevated supply levels placed downward pressure on prices in December.

With the focus shifting toward the holiday season, December sales activity slowed to 878 units in the city, 18 per cent below last year at this time and well below the five and 10-year averages. As a result, the unadjusted benchmark price dipped to $448,800, a 0.42 per cent decline over the previous month and 2.33 year over year. December followed a pattern established early on in 2015, which was characterized by slower housing demand.

Economic uncertainty, followed by weak economic conditions and job losses, contributed to slowing housing demand throughout the year. While aggregate prices trended down in 2015, it was not to the same extent as some had speculated. Supply levels

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Re/Max, CREB Certified Condominium Specialist