Sales activity in Strathmore eased in 2019 compared to the previous year to levels not seen since the early 2000s. While new listings also eased, it was not enough to offset the pullback in sales, preventing any significant change in inventories. This caused the months of supply to average near-record highs.
While prices had managed to stay relatively flat for the past several years, the persistent oversupply situation weighed on prices last year. In 2019, the benchmark price eased by six per cent compared to the previous year.