Hockey Is Back But Just Like Fans Will Home Buyers Be Back In 2013

Certainly fans articulated their anger towards both players and owners for being deprived of hockey for the last 3 months of 2012.  With the return of hockey last Saturday night broadcasters, advertisers, owners and players will all be anxiously looking to see if fans will return.

With the last quarter of 2012 we also saw the number of home sales drop as buyer uncertain regarding the heated Toronto housing market set in.    Now that we are in the third week of the new year I am seeing more buyers return but in talking with them many are not in a hurry to make any purchasing decision.  The numbers for the last quarter of Toronto’s 2012 housing market and listings and sales were down.   However, in those same statistics average home prices held their value while the condominium market did see a downward average price decrease.

Like hockey no game is decided in the first period of play and in real estate we are only 3 weeks into the year.   There are a couple of indicators which I am looking to see how they come in over the next 2 months.   In Toronto I have built a statistical month by month look at the key metrics in detached, semi-detached and condominium for both Toronto East and Toronto Central.   (If you are interested take a look)

What I am looking to see is whether, as in previous years, we come out with the housing market rallying for spring market or if some of the key metrics continue with along the path of the  last 3 months of 2012.   Knowing those localize statistics is going to be critical for anyone looking to sell or buy.   True and exact numbers never lie.  But you have to listen to them and not the rhetoric of the “this is what I think” crowd.

So a new season has started.  Every team believes they will be the Stanley Cup winners, but there’s a long road ahead and no one yet is predicting who will be hoisting the cup in June.  Toronto’s 2013 housing market has just started so like the game we love, play the man not the puck.