UDI Pacific’s 'State of the Market' quarterly publication - Q4-2015.
The overall aim of the 'State of the Market' report is to provide up to date statistics and trends on the new home and re-sale housing markets as well as the amalgamation of relevant economic statistics that impact the housing market to keep UDI members well informed on the current state of the market.
The report also includes the Housing Affordability Index which is derived from Urban Analytics’ New Home Source database. The Affordability Index is a benchmarking tool for identifying trends in affordability for the new home market.
NEW: Included in the State of the Market Report is a section on new home registrations data from BC Housing's Homeowner Protection Office. A new study has been conducted by the Bank of Canada in collaboration with BC Housing to assess whether new home registration data under the Homeowner Protection Act can be used as a leading indicator for economic activity in B.C. The research finds that quarterly increases in new registrations for single-detached homes have statistically significant predictive content for growth in real GDP over the next one to three quarters, and provide stronger signals compared to housing starts and building permits over this forecast horizon. The research report has been published under Staff Discussion Papers on the website of the Bank of Canada: http://www.bankofcanada.ca/research/