Jesse put together a nice clear presentation on our housing market.
Check it out.
His argument is that the factors that set house prices are different for the long term than they are for the short term.
If short term factors drive up supply and pull demand forward, what happens in the future to balance this out?
With housing affordability in Vancouver hitting an all time low and sales scrapping along under 100 a day It sure looks like Months of Inventory is starting to flash a big warning sign for current buyers.
Hey all, This is my first submission, mostly I lurk in the forum but read this site daily.
I just want to send out a big thank you to everyone who shares otherwise unavailable Vancouver housing market data here.
Watching the stats roll in day after day has been fascinating.
It’s amazing to watch the market change day by day, and the aggregate data provides an even clearer picture.
First of all of course there’s Paulb who’s been providing daily numbers for a long while. It’s thanks to Paul that we see the daily number of new listings, sold properties and have a total inventory count. Pauls website is here.
Then there’s VHB, who consistently posts analysis tracking the numbers through the month. Here’s his most recent post.
We have a new commenter going by the name of HFHC who has been providing other great stats including listing data for the entire lower mainland and a break down of sales by category.
Then there’s Inventory, who’s provided excellent number breakdowns for specific markets as seen in yesterdays post about the low June sales numbers.
And of course everyone else who provides such amazing data, analysis and comments. I started listing your handles, but the list went on and on and I knew I’d leave out some the best so I’m opting to just send out a big general thanks to ALL of you, you’re amazing.
It’s the end of another week and that means it’s time for the free-for-all, or regular end of the week news round-up and open topic discussion thread. Here are a few recent links to kick off the chat:
–Vancouver housing slows to crawl
–Telus Garden sold out?
–Maybe not so sold out.
–Inventory growth slows (chart)
–Metro van sees sharp sales drop
–REBGV Press Release (PDF)
–Agent grumpy about bubble talk
–Housing bubble sentiment chart
–1980’s all over again?
–Senators grumpy with Carney
–Housing market pumps GDP
–Australia down 10%
–China’s ‘epic’ property bubble
So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!