How excessive are the number of properties for sale on Vancouver's West Side and Richmond right now?

Yesterday I came across the above chart (click on image to enlarge) courtesy of Makaya on VCI.

The chart is produced by Canadian Watchdog and puts the growth of listings for newly/recently built Single Family Houses in Richmond and Vancouver West in astonishing perspective.

Never before in history have so many properties been on the market for sale.

Should the housing correction pick up speed, the rush for the exits may truly become epic.

(Hat tip Makaya)

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