Tag Archives: 2008

Open Topic, opinion, supply

Will this be a better week for sellers?

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96 Comments

Good monday to you all!

As we head into another week it will be interesting to see if the current dismal sales trend holds.

VHB puts it into perspective:

If we get another week like last week, we will be on pace for sub-2008 September sales. Pause and think about that. In the middle of the biggest financial crisis in 75 years, more houses were sold than now. Wow.

Wow indeed.

So let’s look short term – what do you think?  Will this week reverse the trend that kicked off the month or are we going to see more of the same?

BC, data, supply

2012: Worst July since 2008

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98 Comments

Ring the bell!  July 2012 has come to a close.

Soon we’ll see the press releases from the REBGV (and more entertaining from the GVREB) but it’s starting to look a lot like 2008 again.

Sales have dropped off dramatically, we’re down about 16% from last July and about 9% from last month.

Listings are growing slower than they did in the spring, but MOI is close to what it was in July 2008 according to VMD:

July 2012 Sales:
YoY: -16%
MoM: -9%

Months Inventory:

2012-07: ~8.5
2012-06: 7.8
2012-05: 6.3
2012-04: 5.9
2012-03: 5.3
...
2011-07: 5.9
...
2008-07: 8.8

According to madashell we needed to see less than 115 listings on the last day of the month to have lower sales volume than 2008.

It looks like we just squeaked under that, Paulb says we saw 106 sales for the day.  Here are the rest of the stats for July 31st:

New Listings 186
Price Changes 137
Sold Listings 106
TI:19188