There were 206 new listings today, and 83 sales, for a sell/list of 40.29%. Inventory was 8,151, while over 90s were 2,342 (28.73%). The wave of listings is looking pretty big. When will it start breaking….?
There were 206 new listings today, and 83 sales, for a sell/list of 40.29%. Inventory was 8,151, while over 90s were 2,342 (28.73%). The wave of listings is looking pretty big. When will it start breaking….?
Filed under Daily Numbers
The Best Real Estate Anywhere! 
The wave of listing might be big, but the total number of listings is still well into a seller’s market territory, n’est-ce pas?
WoW – listings are surging – will be interesting if this continues – look forward to watching the numbers for the rest of the month – Rob, thanks for the listings. Sales have been slow, could it be all the rain we’ve been having?
For a good laugh:
http://vancouvercondo.info/2006/12/november-2006-vancouver-price-drops.html
Mwahaha… it amuses me to tears how some consistently insist on being wrong.
By the way, we still so far below even August 2007 (12,000s) listing levels that we can’t even see it.
Does everyone still remember the great Vancouver real estate crash of August 2007?
So so many fortunes wiped out in August of 2007.
“-A-I won’t call you left wing, but I’m pretty damn sure you’re not right wing. You strike me as a moralistic, anti-rich, elitist, pro-tax and anti-individual rights conspiracy theorist (which some would equate with the left)- I see nothing right wing there, but maybe I’m glossing over your finer points”
Rob, interesting interpretation, based all those things you accuse me, I would be an extreme right winger.
I must admit I do have strong convictions, but that has more to do with moral philosophy rather than petty and crude politics.
Can I see some crack please.
Drove buy some newly developed condos Sunday night in Richmond most of the lights are out but the development is finished….hmmm are most of these not lived in condos that are bought by Specuvester/self made YVR RE Tycoons?
Sitting for this Summers sale for another 10% above bought price?
BoJ dropped rates for years and years and years (16) and RE went down EVERY YEAR, following the collapse of a RE bubble here.
Rob – could rates and prices both fall, is this concievable? Or out of the realm of possibility – AmPa, what are your thoughts, pray tell?
Well, for a little while longer, many places that are listed for “sale” really “aren’t” for sale. Priced too high…so, why do they bother?
Sellers have been told for so long that they are in the driver’s seat, that they can’t see the head on crashes coming their way..
Calgary SFD Prices Drop 12% in 5 Months (a 29% annual rate of decline)
Canadian Real Estate Data December 2007
AmPa – why is Calgary down so much? Is it because we have mountains and all they have is OIL???????
Wow,
Because the gov’t here is supporting high real estate prices. Olympic debt, transit debt. Who is going to pay for it? Property taxes! The gov’t is the ultimate landlord of all!!! Look at RE price increases as gov’t’s mark up.
WoW, a mortgage rate decline and a further weakening of the economy is definately possible. Falling rates can be a policy decision to counteract of slack or potential slack in the economy (recessionary phase of an economy). The slow down in the economy can have a large effect on consumer and business confidence (or vice versa of course) helping to dampen some speculative froth in the market.
Thanks bean – it was a rhetorical question, but your further clarification of the mechanics are appreciated, for the edification of the likes of AmPa.
Jeff – you have been conspicously quiet – what up?
Are there any brokers for finding a Realtor? Seems that with many properties selling for $1M or more, the Realtors get about $20,000 each out of the deal. If the market is as red hot as some say it is, shouldn’t some of the Sellers Agents be offering discounts to bring in customers? As it is, they stand to make double the commission as they did 8 years ago.
Any suggestions for negotiating with Sellers Realtors if selling a property? Is anyone aware of a matching service to match sellers with agents? Or do sellers just play them off against each other–“Realtor A will give me $2500 cashback plus make a $2500 donation to the charity of my choice–will you beat this offer?” Have any of you sellers out there had a successful experience in negotiating down the standard commission for the Sellers Agent?
Again,
Whybuywhenucanrent?
(I’m not suggesting reduce the commission for the buyers’ agent, I’m well aware of the problems that *that* can create!)
Bernanke Finds his Voice
http://www.informationclearinghouse.info/article19058.htm
Here’s Bernanke’s grim (but realistic) forecast:
“Financial conditions continue to pose a downside risk to the outlook for growth….The financial situation remains fragile, and many funding markets remain impaired. Adverse economic or financial news has the potential to increase financial strains and to lead to further constraints on the supply of credit to households and business…Incoming information has suggested that the baseline outlook for real activity in 2008 has worsened and the downside risks to growth have become more pronounced. Notably, the demand for housing seems to have weakened further, in part reflecting the ongoing problems in mortgage markets. In addition, a number of factors, including higher oil prices, lower equity prices, and softening home values, seem likely to weigh on consumer spending as we move into 2008.”
-A-
You’re awesome!
“Rob, interesting interpretation, based all those things you accuse me, I would be an extreme right winger”.
You strike me as pro tax (not a right wing quality), anti-rich (not a right wing quality) anti-individual rights (not a right wing quality) and yet you conclude that you’re an extreme right winger! Why does that not surprise me? I’ll guess that it was the moralistic part that makes you think right wing. Give that a little thought. What part of the political spectrum do the biggest moralizers come from these days?
WoW:
Could both rates and prices fall? Well, according to me (stated many times) real estate prices don’t move in lockstep with interest rates, despite assertions to the contrary. Therefore I pretty much have to say that rates and prices can both fall, together, as shown by history. It goes both ways. We’ve seen rising prices and rising rates as well.
Peter:
Your understanding of real estate pricing and property taxes is defective.
WBWYCR:
All commissions are negotiable. The rates are governed by creativity, federal competition law, and supply and demand. Absolute price is not the only ingredient.
WoW:
I’m on vacation until March 1. In Florida right now where FOR SALE signs are everywhere.
Remember I moved from Toronto to Vancouver… so the rain in Van really depresses me this time of year.
“Jeff
January 15, 2008 at 2:04 pm
WoW:
I’m on vacation until March 1. In Florida right now where FOR SALE signs are everywhere.
Remember I moved from Toronto to Vancouver… so the rain in Van really depresses me this time of year.”
Hmm…it was like that LAST summer when I was there!
PS:
I think Florida is hot, flatter than Saskatchewan and UGLY.