REBGV released monthly housing market data for February 2009 here.
You might feel like a real loser for buying those 4 presale condos at the Woodwards building that you are really underwater on now but you can rest easy knowing that Vancouver is a 'winning city.' We are still winning the fastest real estate price decline from peak of any North American market but it really looks like we are going to have to pick up our socks if we are to maintain that lead. Come on now Vancouver, let's give Miami something to talk about.
Sales are still in the figurative toilet and we can expect them to rise for the next 2 or 3 months as the normal seasonal variations of activity in the real estate market take place.
Active listings are at super elevated levels before the spring listing rush.
The ratio of sales to active listings is low, really low.
Months of inventory is high, really high.
The tight correlation between months of inventory and price changes continues to be tight. Tighter than white on rice.