Well July is here and that normally means a slowdown in activity in our market. Most people are surprised to hear that December and July are the two slowest months for number of units sold in the real estate market. That being said there are still homes selling, people just tend to have their minds on summer holidays and enjoying the short Edmonton summer. I've put together another graph showing our inventory versus sales.
The sales data has been quite strong, we are pushing 2000 home sales each month for the last 3 months. Actually they have been extremely consistent, 1823 in April, 1821 in May and 1852 in June.
Our inventory has finally started to crest, we actually dropped a little with the number of homes for sale on the market. At the end of May we were sitting at 11,006 homes for sale and now we are down to 10,817. This falls into normal inventory patterns of markets prior to 2006. We normally peak out in May and the inventory gradually falls to a low a the end of December.
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