Montreal REal Estate - January 09

[LindbergMTL]

It’s déjà-vu all over again.

 

With the market updates being so identically close to the ones from November and December, January’s market news are no news at all. Still, let’s give the breakdown, to keep the tradition.

 

Here we go:

 

Compared to January 2008, last month we had an increase of 12% of properties listed in the market.

New listings decreased by 14%

Overall actual sales decreased by 37%

 

Prices are still increasing:

Condos: +4%

Single Family Homes and Plexes: +3%

 

If you take a look at the past reports you will see that not much has changed.

 

The prices have not decreased, and sales continues to be slow.

 

 

Michel Beausejour, FCA, Chief Executive Officer of the GMREB, notes:

 

“It’s obvious that the sales decline is mostly due to a drop in consumer confidence. It’s not surprising to see this decline, even though the real estate market has been quite solid for the last 30 years or so, which is as far back as our statistics go.”

 

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