I have been eagerly awaiting this month's statistics to see what sort of bounce back, if any, we would see after the slower Summer season. The detached market showed the expected boost in sales activity while, somewhat surprisingly, the attached market actually showed a slight decline. What is interesting here is that the listing inventory didn't climb in the attached market either, as is typical for September, which resulted in a slight gain in median pricing. Conversely, in the detached market, the increase in sales activity was more than offset with a large increase in active listings and a fairly significant slide in median pricing was noticed. Will be very curious to see how these trends unfold in October. Is the fall selling season just arriving a little late this year? Or are will we find ourselves in a full fledged buyer's market by the end of the month?
It will be very interesting to keep an eye on over the next few weeks, but it is my belief that the commitment to hold interest rates until 2013, in conjunction with positive employment numbers and immigration numbers, should keep prices steady through to next year.