I guess you should never underestimate people’s attraction to conspiracy theories, their ability to look a gift horse in the mouth, or the zany quality of of the conclusions people can reach. It can be some good stuff!
“Wed/Thurs Numbers are being held back. Why may you ask? It’s Friday and why bother communicating negative trend information just before the weekend. 2-3 days worth of consistant data could negatively or positively impact the value of a potential offer….It is too bad there is no third party organization that regulates real estate listings and sales results without any conflict of interest”
I’ve got close to two years of consistent, and free, information reporting. The numbers have sometimes been bullish, and sometimes bearish. Its all still available on the internet. Lately I’ve been very busy with various demands. I haven’t been able to devote much time to this free service, and I’ve provided explanations (short staffed at my office, flood restoration, health challenges for a family member, large renovation).
The information that I provide (and more) is available to any Realtor. It is far from strictly controlled. In other words, its pretty easy to obtain. It does take someone’s time and effort, and that’s the problem. Its free to the readers, but its not free. It costs me, (and any Realtor) time and money to provide it.
The Real Estate Board of Greater Vancouver regulates listings and sales information, and has done so for decades. Its done so in up markets and down markets. Whether you describe price increases or decreases as positive or negative doesn’t matter: both have been reported consistently. The individual transactions that make up the whole can be tracked easily. The idea that the data gets molded to sort some type of agenda is risible.
Anyone writing an offer should ask for this kind of information, but anyone who bases the purchase of a piece of real estate on three days worth of sales figures needs professional advice.
Don’t get me wrong. I’m not fishing for compliments. I’m just really amused (bemused?) by Spencer’s conclusions.
That said, here are the numbers for Wednesday and Thursday.
Wednesday: 283 new listings and 204 sales for a sell/list of 72.08%.
Thursday: 326 new listings and 146 sales for a sell/list of 44.78%
Friday numbers, up to now, are 248 new listings and 107 sales for a sell/list of 43.15%. Inventory stands at 11,290, while over 90s are at 2,432 (21.54%).