Vancouver Real Estate Statistics: September 2008
So the September stats from the Real Estate Board came out yesterday and it was great new with prices up 400% and sales up by 1 billion units. Okay, just kidding, the news was bad. Sales were down 42.9 per cent compared to last September. As well 28.8 per cent more homes were listed last month than in September 2007. Prices were down too.
As always out stalwart president tried to put as positive a spin on it as possible:
"After five years of unprecedented increases, housing prices are beginning to realign,”
and
“Although the economic situation in the United States has affected consumer confidence globally, the consensus view remains that our local housing market is underpinned by solid economic fundamentals.”
The reasons are many and economic news out of the US cannot help. In the short term the reality is prices likely to be getting lower before they get any higher. If you are planning on selling soon then now is the time. Make it look really really good, price it better than the crappy house down the street, and then head out in the backyard (or the front if you are brave) and do a little dance too. It can't hurt.
The report is attached for your reading enjoyment. Have a great weekend.
Matthew Collinge: Vancouver REALTOR®
