September is the fourth month in a row that real estate listings have gone up while sales have gone down according to this brief story in the vancouver sun.
The number of sales in the greater vancouver area are down almost 25% from september one year ago, while the number of listings are up 11.4%. Fraser Valley saw similar numbers with a 23% drop in sales and a 19% increase in listings.
“Rick Valouche, Real Estate Board of Greater Vancouver president, said the figures show the region is “moving towards a balanced market.”
Does anybody know what a balanced market is? What years would the real estate market have been considered ‘balanced’ in Vancouver? What effect does ‘balance’ have on prices?