Monday, December 2, 2013

Monday Post #1: Richmond Vancouver a seller's market? Realtor responds "whoaaa…"

UPDATE: The data in Richmond Realtor Shuchat's post is about Vancouver, not Richmond, as originally posted on this blog. The reference to Richmond has been removed (hat tip A. Shuchat).

Yesterday we told you how Realtor Alphabet Arnie Shuchat had declared Vancouver "a seller's market"

But before we break out in a chorus of 'happy days are here again', AA would like to clarify:
Thanks for the post and quote... but whoaaa..... Whisperer, easy on my conclusions. I pointed out a trend using just one simple metric. Obviously there are others. A "Seller's Delusion Ratio" of 71% is still not the 29% of February 2011. It is 3 times worse. The noteworthy point here is the trend.

It was certainly a seller's market at 29% and it was certainly a buyer's market at 244%. 
I am not aware of anybody else who has used this metric to define a market as a buyer or seller's market and I cannot say for sure at what point in the SDR ratio the market is a buyer or a seller's market.

It is the recent trend to lower ratios which caused the observation. Obviously other metrics need to be examined as well.
Guess we will have to hold off on the string of bullish real estate posts we had planned.


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