If you haven’t seen these numbers yet, or if you have any doubt that the Lower Mainland real estate market is undergoing a dramatic shift, check them out now. Supply continues to grow while sales keep dropping.
Here are a few highlights:
Sales down 41% from June 2007
Inventory up 53% from last year
North Vancouver inventory up 113%
Check out Paul’s blog for all these stats and more graphed out for some dramatic visuals.
So far prices haven’t been impacted much at all, but increasing supply and decreasing demand will put pressure there unless this dramatic shift reverses soon. Could we be in danger of tracking the US market?