Vancouver Real Estate Statistics: June 2008
The Real Estate Board of Greater Vancouver released the June 2008 statistics yesterday and the media are having a hay-day with them. No question the market has changed. Listings are way up (18.3 per cent to 6,546 in June 2008 compared to June 2007, when 5,533 new units were listed), inventory is way up, sales are way down (42.9 per cent in June 2008 to 2,425 from the 4,244 sales recorded in June 2007). The REBGV still managed to come up with ONE hot spot, New Westminster, where apartment unit sales were up 42% from 13 to 19 units sold.
The Vancuover Sun's Business BC section proclaimed "It's a Buyer's Market". Is it? Just 3 months ago it was a seller's market. I don't think you can say it is a buyer's market yet. Does anyone even remember what a buyer's market is? Don't get me know wrong it is possible it will go there, but I don't think we are there.
Also in the Vancouver Sun today the less exciting headline "Greater Vancouver house prices drop slightly"
The South Delta Leader asked "Buyer's Market?
The stats report is attached below. What do you think about the market?
Matthew Collinge: Vancouver REALTOR®
