The strong momentum from last month has continued into November. Buoyed by a continued level of strong interest in the first time buyer grant, sales rose 7.4 percent. Some of the sales were surely buyers racing to complete their sale by the original November 30th deadline.

The sales growth was higher than expected though and the December sales numbers are going to be interesting. With the new homebuyer grant and the existing homeowner grant now going until the end of April giving buyers extra time, there should be a noticeable slowdown in December. If the momentum continues and Dec/Jan numbers are above expectations, watch out for a big spring market.