Today, I want to take a look at the real estate market and what's been happening over the last little while. Also, I want to take a look back a little bit in time to see what the difference is compared to maybe five years ago or 10 years ago. So, when we look at the real estate market, one of the factors that we look at first is the sales-to-active listings ratio. Basically, that measures the supply and the demand that's going on in our market. And, when we look at that overall, this is for our overall, all of our different property types. So basically in general, this is the real estate market for the last five years. But, you can take a look at the sales to listings ratio.And when we consider that, anything below this line right here is called a buyer's market. And, anything above this line here is considered to be a seller's market. So, if this is where we are right here; then clearly, we are in a seller's market. The marketplace is dictated pretty much by the amount of supply and the amount of demand. So, the way that you change that is you either increase the supply, or you lower the demand. With interest rates being where they are, where it's virtually free to borrow money from the bank to buy a house. 1.85 I think percent, is quite common to hear. I've heard of rates as low as 1.65% for five years. So, it's a good time for people to want to buy, and take advantage of those interest rates. Looking at our supply, you can see that our inventory level is right there for the end of January.And, it's quite a bit... There's only one time that I can see that it's actually been lower in the last five years. And really, if we take that out, we can take a look and say, "Okay, in the last 10 years, there's only one time that it's been lower in the last 10 years." So, active listings are lower than they've been for 10 years. So, our demand has been taking up our supply at a pretty steady rate. So, let's take a look at the demand. And, you can see right there to the end of January, our demand is pretty high compared to the rest of the last five years. And, projecting that out over 10 years, you can see that our demand is quite high compared to what it was for the overall 10 year period as well.And, that's it in a nutshell. You have high demand and low inventory, and you're going to have a very, very active, and you're going to have a bidding wars on housing. And, it's a little bit difficult to navigate, particularly if you're a first-time buyer. One of the other factors that you look at is, what's the new listing inventory doing? And, you can see that in the last little while, it fluctuates a lot. But, it has to try to take up... It's on an uptick at the moment, which usually happens in the springtime. And, we expect that this will continue through the spring. But, it's got to continue for a lot longer in order to make up for the amount of demand that we've had for the last 10 years.One of the areas that you want to look at is, this is the overall market that we're looking at, so does it impact each area of the market the same way? And, the answer to that question is really no. So, when we take a look at single-family housing, you can see that the number of sales here is quite high to the end of January in comparison to the last five years. And our inventory level, right to there, is also for the last five years quite low. You can see that our inventory levels are lower than they've been at any time for single-family houses in the last five years, and it would be the same for the last 10 years. But when we look at townhouses, townhouses will reflect a very similar activity to the housing market, not quite as significant, or extreme.Then when we look at the activity for apartments, we notice that it's not quite as volatile as it was for the overall market, or for the housing market or single-family housing market. We can see that our sales-to-active-listings ratio is much more constant. And, that you can see because I think the difference is, is that our active listings level is at a much higher level overall, compared to a demand that is not quite so significant. Overall, our market activity is very, very active. Townhouses are about the same as single-family houses. And, condominiums is a little bit more reasonable but still very active. We're not in a balanced market, we're more in a seller's market still for condominiums, but closer to a balanced market. So, you're not going to see the same impact on your property if you own a condominium.But anyway, I hope that's been helpful for you. So, if you're interested in more information, I'm happy to help you out. I'll leave my contact information on a tag on the end of this video. So, have a great day, try to stay warm, today's a very cold day. But hopefully, the sun's coming out tomorrow, it'll be warmer. Thanks. Bye-bye.