grant
Apr 3rd, 2007, 07:46 PM
http://www.canada.com/vancouversun/news/story.html?id=9634167d-397e-4e9a-9dee-d19fbd360d22&k=33069
Sales in the GVRD are DOWN from last year. Active listings are UP. Prices are UP and have reached a new peak. (Vancouver benchmark price is now $682,173.)
Certainly this will be shocking news to some of the know-it-all armchair real estate experts who have been babbling that some kind of bubble is bursting.
The rising number of listings is obviously contradictory to rising prices; this suggests we may finally be in the "end game" of the current pricing boom cycle, where buyers & sellers are in a staring match waiting to see who blinks first.
Sales in the GVRD are DOWN from last year. Active listings are UP. Prices are UP and have reached a new peak. (Vancouver benchmark price is now $682,173.)
Certainly this will be shocking news to some of the know-it-all armchair real estate experts who have been babbling that some kind of bubble is bursting.
The rising number of listings is obviously contradictory to rising prices; this suggests we may finally be in the "end game" of the current pricing boom cycle, where buyers & sellers are in a staring match waiting to see who blinks first.