Tuesday, August 08, 2017

REBGV Sales Update Through July 2017

REBGV released their stats package through July 2017. Here are the numbers:

Sales have retrenched  and are now decidedly "average", nowhere near the levels seen in 2016. Inventory is low, though new listings have recovered. The result is a low but increasing MOI (months of inventory). A long stretch of robust (or at least not pallid) new listings is required to allow  inventory to recover: new listings have returned to the point where inventory recovery is slowly occurring.

Reports from the front lines claim that certain market segments have slowed; it remains to be seen if these reports are confusing the usual summer slowdown with something more significant. Recent changes to lending and whispers of shuttered supply lines of capital from distant shores are creeping onto my twitter stream's consciousness. We shall see!

And, yes, supply is coming.