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August Stats Update

http://www.robreynar.com/ViewBlog/431/ - Another strong month for the Calgary and Area Real Estate market. Sales numbers are up nicely, and inventory is balanced.. There are some possible warning signs however that we should watch, one of them is a looming Federal Election.

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August Stats Update Blog Transcription

Hey guys! Rob Reynar here just checking in, wanna do some MLS Stats for the month of August. There are very positive news again for August. It was a very brisk month and again good news, media reports about real estate which is positive. Again this was the fourth month in a row that overall sales numbers were up. we're hitting the median price right now of about four hundred which is not bad at all considering where we've come from in months prior. Just a quick look at the graph, nothing really you know, sort of too telling here obviously sales do go down generally in August, they went a little bit but our inventory is down as well and we saw the median price. This is total MLS median price, four hundred is single family. Total median price around three fifty so that's down slightly but then again normal trends for the summer. So nothing too outlandish to see here. The absorption rate maybe is getting a little bit more interesting for us and the reason I say that is because remember at the beginning of the summer and the spring. I talked about the market entering into a balance steeply and that's exactly what has happened but what we're seeing is that it's starting to creep back up to the top part of that balance market. What we don't want to see is a repeat of last year at this time where we saw a bunch of inventory come on the market and the sales numbers go flat because that will put us right back into where we were last year at this time. So, watching the trend of absorption rate I think will be a really crucial stat as we head into the fall. We're gonna watch that closely. When you look at the inventory versus sales, you can see those numbers are pretty much conjoined right now when the inventory line moves, the sales line moves so that leads us to be really balanced. The market is not being swayed one way or another and when you look at total MLS sales and listings again the listings went up but the sales went up with it. The listings have come down and the sales have come down as well. So we're just seeing a normal even flow of the market. Nothing too outlandish there but I think overall, very positive right now. There are lots of sales and there are lots of good deals out there right now coz there are still some overpriced houses on the market that need to change and there are some deals if you are identifying that as a buyer. But here's the rub, we all heard yesterday liberal leader Michael Ingnatieff puffing out his chest about needing a federal election. When I talked about absorption rate and I talked about sales slowing down and consumer confidence, that is the last thing we need is a federal election. That will put the breaks on the overall markets in general and real estate included and it's bad timing because it's heading into a part of the year where we seasonally see a slow down into the Christmas month. So the last thing we need is a federal election to slow down any of the momentum that we've picked up over the summer months. I'd love to hear your comments on this, info@robreynar.com. R-E-Y-N-A-R, info@robreynar.com. Talk to you soon, buh bye!

This is a transcription of the latest Video Blog from MorrisReynar.com . If for any reason there is a discrepancy between this text and the Video Blog, the Blog is deemed accurate.

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