Ok so I am a little hyper-active at the moment.
We are at a crucial point in the market. We could go up or down or sideways :)
Seriously though. Demand is down. Price reductions are routine. MOI is now 7 months in Vancouver and much higher 30 minutes drive or a short ferry ride away. Wages have run up YOY and this puts pressure on the BoC to raise rates. Flaherty WANTS home prices to come down. What does this all add up to>>>>lower prices.
However some agents I speak to, say there are lots of regretful Randolphs, upset at having missed the quick crash of 2008/9, who are waiting for the slightest sign of weakness to pounce on a 'perceived bargain'.
BTW in the spirit of fairness I will have to say that North Van must have got the sales that they didn't have time to put on the system yesterday. From 1 sales yesterday we are up to 10.
In fact the numbers are 15, 9, 10.
But for Van West they are bearish today at 57, 39, 17. Some really nice reductions in there from crazy prices to just insane.
Most other places have list/sales from 30-60% nothing too exciting.
Can't read too much into any one day's results.
Have a great week-end.