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Sales to active ratio:
- December 2022 = 18%
- Detached homes = 10%
- Condos = 26%
- Townhomes = 27%
- Higher than last month = 17%
- Lower than December 2021 = 98%
- Lower than 5yr December average = 43%
- Lower than 10yr December average = 33%
- **Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**
Sales:
- December 2022 = 22
- Lower than last month = 30
- Lower than December 2021 = 50
- Lower than 5 yr avg = 40
- 45% lower than 5 yr avg
- Lower than the 10 yr avg = 36
- 39% lower than 10 yr avg
Inventory:
- December 2022 = 121
- Lower than last month =175
- Higher than December 2021 = 51
- Lower than the 5 yr avg = 124
- Lower than the 10 yr avg = 158
In a nutshell
More of the same, December was one of the slower December’s in the last decade. Start of a new year may breathe some life back into the market, the next few rate hike dates will be important to watch.