• The relative affordability of this product type, coupled with price adjustments in this segment, supported sales growth in the resale market. While sales improved across most districts, the largest gains occurred in the South East district.
  • New listings continued to decline across most districts, supporting reductions in inventory levels. The one exception is the City Centre district, where, despite improving sales, the rise in new listings was enough to prevent any reductions in overall inventory levels.
  • The balance between supply and demand improved, mostly for product priced below $400,000. Citywide, this helped prevent further price slides in the second and third quarters, slowing the annual decline in prices. However, overall, row prices remained four per cent lower than last year’s levels and 13 per cent lower than 2015 annual highs.