June 17 Market Update

MLS numbers update courtesy of the VREB via Marko Juras. These numbers are for the Victoria Real Estate Board's reporting area, including Sooke, Shawnigan Lake and the Gulf Islands.

	June 2013				June2012
	Wk 1	Wk 2	Wk 3	Wk 4
Uncond. Sales	173	341			637
New Listings	418	730			1449
Active Listings	4809	4848			5189
Sales to New Listings	41%	47%			44%
Sales Projection	692	682
Months of Inventory					8.1

Trend continues.  Slightly higher sales, slightly lower listings than the same period last year.  Lots of bubble talk in the media and chatter about changes at CMHC, but so far nothing concrete has come out in the open.  Whatever happens with CMHC will be the key development in the housing market this year.