Cancellations are up, not sales. I would think a high % of cancellations will re-appear either very soon or in the Fall. It seems reasonable that inventory for Fall '07 will surpass last year's unless cancellations take off through the Summer.
It's interesting how the daily listing volume of Fall '06 is very similar to that of Spring '06 and '07. There could be a limit to how fast Realtors as a group list properties. This may have to change if many people want to start selling and it could mean a fundamental shift in how Realtors conduct business.
6 comments:
Inventory is certainly tighter than I expected. I keep waiting for things to unravel but here we are.
What are the source of these stats again? Is this from the REB or canada.com listings, or?
warren - I take the VW SFH and DT/FN Condos from www.mls.ca and Rob Chipman doles out the Chipman index numbers every day on his blog.
Sorry I got confused with other stats that VHB used to post, maybe it was rentals.
Cancellations are up, not sales. I would think a high % of cancellations will re-appear either very soon or in the Fall. It seems reasonable that inventory for Fall '07 will surpass last year's unless cancellations take off through the Summer.
It's interesting how the daily listing volume of Fall '06 is very similar to that of Spring '06 and '07. There could be a limit to how fast Realtors as a group list properties. This may have to change if many people want to start selling and it could mean a fundamental shift in how Realtors conduct business.
here are some more charts mohican (based off of the #'s rob has provided)
[URL=http://imageshack.us][IMG]http://img124.imageshack.us/img124/1672/cap00005pz6.jpg[/IMG][/URL]
http://img124.imageshack.us/my.php?image=cap00005pz6.jpg
[URL=http://imageshack.us][IMG]http://img518.imageshack.us/img518/6199/cap00004an6.jpg[/IMG][/URL]
http://img518.imageshack.us/my.php?image=cap00004an6.jpg
[URL=http://imageshack.us][IMG]http://img518.imageshack.us/img518/7828/cap00003bq0.jpg[/IMG][/URL]
http://img518.imageshack.us/my.php?image=cap00003bq0.jpg
[URL=http://imageshack.us][IMG]http://img183.imageshack.us/img183/2299/cap00002cq2.jpg[/IMG][/URL]
http://img183.imageshack.us/my.php?image=cap00002cq2.jpg
[URL=http://imageshack.us][IMG]http://img503.imageshack.us/img503/7730/cap00001dm0.jpg[/IMG][/URL]
http://img503.imageshack.us/my.php?image=cap00001dm0.jpg
[URL=http://imageshack.us][IMG]http://img517.imageshack.us/img517/3579/cap00000bj9.jpg[/IMG][/URL]
http://img517.imageshack.us/my.php?image=cap00000bj9.jpg
Thanks for those charts, E, looking good!
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