Tag Archives: realtors

Friday Free-for-all!

It’s the end of another work week and that means its time for another free-for-all post.  This is our regular end of the week news round-up and open topic discussion thread for the weekend.  Here are a few recent links to kick off the chat:

Why falling house prices aren’t bad
What impact from the new rules?
OSFI Credit Union loop-hole
Absurd property of the week
‘Just under a million’ price drops
Expert rips Mayors housing report
Fellow realtors complain to Keith Roy
What does Cameron Muir think?
Canada house prices not sustainable
Affordable housing needs replacement
Will we always have leaky condos?
We ain’t Paris

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

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Vancouver Real Estate: listings up, sales down

Over at the CBC there’s an article about the ‘uncertain fate’ of Vancouver real estate.

Vancouver’s real estate market has taken another interesting turn, with listings up and sales down during what is usually a busy time of year.

In May, average prices for houses have dropped about $150,000 compared to one year ago. That 12-per-cent drop wiped out two years of price increases.

The reason appears to be that too many more sellers are trying to cash in at the same time. Listings are up by 23 per cent, but fewer are buying: sales are down 24 per cent.

“Probably, on average, about a 150 or 160 homes in Vancouver are reducing their price every day in the hope of catching, getting ahead of the train and maybe get out before they can’t,” said realtor Larry Yatkowsy.

Larry is an interesting fellow, he seems to change opinions frequently, but isn’t it in most realtors interest to get sellers to lower listing prices to make a sale?