Tuesday Numbers

There were 232 new listings yesterday, and 165 sales, for a sell/list of 71.12%.  There were 52 price changes.  Inventory broke 11,000, reaching 11,o024, of which 2,729, or 24.75%, were over 90s.

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29 Comments

Filed under Daily Numbers

29 responses to “Tuesday Numbers

  1. DaMann

    Thanks for the numbers. I’ve sorta stopped watching the total inventory and am more interested in the over 90’s. January will be interesting indeed!

  2. DaMann

    As a side note, I haven’t heard anyone mention Victoria recently. Apparently SFH were down almost 5% ( 4.7%) I think. MoM for October. Condos and TH were even or .5% gain. Price compression?

  3. Grin and Bear It

    Thanks for the numbers, Rob. Looks like the bulls have had some days going their way over the last couple of weeks. 😛

  4. coco

    Battlestar Galactica and Bionic Woman stop production in Vancouver due to writers strike. 200 people laid off from caterers to carpenters, etc.

  5. The Original Joshua

    I think Bionic Woman would have stopped production soon, strike or no strike. Absolutely brutal show. 😉

  6. Markets are cyclical, housing is a market

    I like bionic womans gadgets, go go gadget D!ld@!

  7. Dignan

    Most shows in town will be done shooting by the end of January. Almost everyone in film owns a house/condo and alot of people in film own multiple houses. It will not be good for them if the strike lasts any longer than December/January.

  8. blueskies

    http://tinyurl.com/2aed2s

    from across the pond:
    The three-month London interbank offered rate for sterling, known as BBA Libor, rose to a two-month high of 6.49pc, indicating that banks are unwilling or unable to lend to each other.

    liquidity squeeze, great for housing prices

  9. Dignan

    “liquidity squeeze, great for housing prices”

    please explian.

  10. blueskies

    if it is difficult or impossible to get a mortgage than you have way less sales putting pressure on high valuations, the only direction is down.

    i shoulda been more informative in my original post… too much satv i guess 🙂

  11. Almost everyone in film owns a house/condo and alot of people in film own multiple houses

    I have a few clients in the film biz (wardrobe, director’s asst., locations, and three others, whom I know not what they do. I also have a producer.) and none of them own anything – except for the producer. (and her wife (?) is a Dr.)

    It’s only a billion dollar industry (film). The Conservatives’ mandatory-jail-time-for-pot-growers Bill will have a bigger impact, me thinks.

    Way to kill BC’s economy Herr Harper! (f*%k-stick)

  12. blueskies

    from HBB:

    These folks think “credit crunch” is a cereal!

    actually it’s more like a candy bar….

    it may look like chocolate but is actually Exlax….

  13. vanreal

    coco, You sure like to gloat about other’s misfortunes.

  14. ceejay

    It is not the end. It is not even the beginning of the end. But it is, surely, the end of the beginning…Winston Churchill

  15. Jurock

    Home Prices Rise Modestly in Vancouver and Victoria

    Vancouver, BC – November 21, 2007. British Columbia Real Estate Association (BCREA)
    reports residential sales volume on the Multiple Listing Service® (MLS®) in BC climbed 23.5 per
    cent to $3.40 billion in October, compared to the same month last year. Residential unit sales
    increased 12.8 per cent to 7,358 units during the same period. The average MLS® residential price
    hit $462,912, up 9.5 per cent from October 2006.*

    http://www.bcrea.bc.ca/news_room/2007-10.pdf

  16. blueskies

    http://tinyurl.com/2z9p5a

    good article on CDN mortgages and borrowing
    G&M

  17. coco

    Vanreal,

    I work in an industry that depends on a good economy. I post all kinds of news articles for information purposes on our economy. Don’t worry, if I get laid off, I will post that too.

  18. DaMann

    Jurock

    SFH prices in Victoria were DOWN 4.7% MoM in October. Condos and TH were even. Of course that part doesn’t get reported. Just the year over year increases.

  19. coco

    Banks boost Canadian profit to record but subprime fall-out looms

    http://tinyurl.com/2kh79e

    “Canadian banks exposure to fixed-income investments is not on the level of banks in the U.S. and Europe, although the cost of credit available to banks is likely to rise going forward”

  20. Jeff

    I don’t think 25-50 basis points, if the BoC gives that over the next 6-months, will have any material impact on RE.

  21. coco

    Jeff,

    I agree.

    Possible future subprime writedowns could tighten any mortgage interest rate decreases too.

  22. robchipman

    coco:

    No offense, but it seems like you’re trying to have it both ways. If rates increase from 5.25 to 5.9% you seem to indicate its a problem, but you write off a projection of rate drops. I think its becoming increasingly clear that we’ll see less pressure from inflation, more liquidity and lower rates. Less inflation is downward pressure (nominally) for real estate, but increased liquidity and lower rates go hand in hand, and are upward pressure on prices. The lending business is competitive, which means lenders are going to want to get money out – lower rates won’t go hand in hand with tighter rules (at least I don’t think they will).

    I think much more important will be the economy in general, and how we respond to a US recession. Low rates and liquidity may become remarkable for their inability to spur a strong enough economy to spread the benefits of our commodity windfall. In other words, we’ll see more of the split economy – strong Alberta, and to a lesser extent BC and Saskatchewan, and a suffering East.

  23. Alpha_Bear

    There seems to be an assumption that if the Bank of Canada lowers their lending rate, that mortgage rates will be lowered as well. This is probably an incorrect assumption, considering what has happened in the U.S. since the Federal Reserve lowered their lending rate.

  24. coco

    “If rates increase from 5.25 to 5.9% you seem to indicate its a problem, but you write off a projection of rate drops”

    Rob,

    I’m not writing off anything…remember I’m the one looking to purchase, wouldn’t a mortgage rate decrease benefit me? Since, no one has lower mortgage rates by a significant amount yet, why count your chickens before they are hatched?
    Last time I talked to my financial advisor at the bank, I was told there was a “possibility” of the rate coming back down, but they were not sure of that. Even if the rate comes back down, I’m preapproved at the same rate right now.

  25. coco

    Bond yields have fallen since banks raised mortgage rates in October, that is over a month ago and still no decrease in long term rates.

  26. coco

    “The overnight Canadian Libor rate dipped to 4.5767 from 4.5817 on Wednesday.”

    Part of the problem is that banks are still fearful lending to each other. Libor still remains slightly above BoC rate.

  27. coco

    Canadian Banks May Report First Earnings Decline in Five Years

    http://tinyurl.com/yr4dss

  28. coco

    Mortgage seekers are the Main Street collateral damage of credit crunch (Canada)

    http://tinyurl.com/2z5n5g

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