Thursday, April 19, 2012

Thurs Post #2: Vancouver Inventory hits 17,000 mark


After starting the year at 10,671 listings, total Vancouver inventory crossed the 17,000 threshold today.

Inventory is up almost 70% since the start of the year.

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8 comments:

  1. AnonymousApril 20, 2012 at 5:13 AM

    To be fair, inventory always expands in the first 4-6 months of they year and then subsides in the later half. The real story is the fact that there has never been this amount of inventory is unprecedented for this time of year, and the pace of expansion has been startling compared to other annual cycles.

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  2. AnonymousApril 20, 2012 at 5:14 AM

    Let me try that again

    To be fair, inventory always expands in the first 4-6 months of they year and then subsides in the later half. The real story is the fact that there has never been this much inventory at this time of year, and the pace of expansion has been startling compared to other annual cycles.

    ReplyDelete
    Replies
    1. WhispererApril 20, 2012 at 8:38 AM

      Good points,

      Does anyone know the all time high for inventory in Vancouver and the date it was achieved?

      Delete
    2. rp1April 20, 2012 at 11:01 AM

      It normally takes multiple years of inventory accumulation to equal a bust. This year it started high and went higher. When a downturn comes, that will happen year after year. Whether or not the price declines really depends on the MOI.

      In the late 1990's people bought even though the price was falling because costs were low compared to rent. People are doing the same in the US today. But it also depends on how many people have money during the bust. Many people have already bought, and a many incomes are tied to the real estate industry. This obviously makes a bust much worse.

      Delete
    3. FarmerApril 21, 2012 at 3:01 PM

      Tried a variety of Googles on that one but am not getting the desired results for inventory. I was guessing 1981 was a high point because I remember it for the trauma it was.....but no luck. Stupid real estate cartel and all their private data bases!

      Delete
  3. AnonymousApril 20, 2012 at 7:54 AM

    ^ I third and fourth that

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  4. DaveApril 20, 2012 at 8:47 AM

    So I walked into my local real estate office and asked " is this all the houses you have for sale?" . The real estate representative answered " how many do you want to buy"

    ReplyDelete
  5. AnonymousApril 20, 2012 at 11:14 PM

    One interesting fact about this April is that there are as many price changes as sold listings. Can't imagine that has happened too many times in the last decade or so

    ReplyDelete

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