Tuesday, March 03, 2009

You Are Still Winners Vancouver!!

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.

Prices are still in a downward trend.

Good luck with those Woodwards condos, I'm going fishing.


jesse said...

That's right! We're all winners, though some are more winners than others.

mightymouse said...

Thanks for the charts!

Strataman said...

It's like an intermission in a great thriller movie. Gotta get a big bag of popcorn, take a leak, not going to want to miss the next act!

Paul said...

awesome work. I love the first chart. Go Vancouver!!! We can do it ;)

M- said...

Thanks for the stats!

Come on Vancouver! We can maintain our lead! Down! Down! Down!

Arwen said...

Mohican, I love the Case-Shiller! Thanks for all the charts.

van_coffee said...

Any plans to post the FVREB graphs?

Best, VC

mohican said...

van_coffee - later today - this evening

Like the post said - I'm going fishing!

van_coffee said...

Understood - much appreciated.

Warren said...

Great graphs, thanks for all of the updates.