Sales, like a tramp steamer running of gas is sputtering, and slowing down..
In March we had .."a decline of 29.6 per cent compared to the 4,080 sales in March 2011 and an 8.4 per cent decline compared to the 3,137 home sales in March 2010." REBGV
We are on course to have 2900 sales for the REBGV for April.
That would be 10% less than last year and 20% less than April 2010.
That cannot be a pleasant situation for the 10,000 Realtors in the region (give or take a few hundred as these are 2010 numbers)
Now of course every sales has two parts a listing Realtor and a selling Realtor, so 2900 sales become 5800 transactions.
Rounding the numbers that comes to one transaction for every two Realtors in April. Even with our sky-high prices, that leaves a lot of agents with little or no income in April and on-going expenses.
Of course like many other fields, the top 10-20% are probably accounting for the lion's share of the transactions.
The darker meaning of the HIndenburg Omen
-
*Preface: Explaining our market timing models*
We maintain several market timing models, each with differing time
horizons. The "*Ultimate Market Timing M...
4 days ago
Ontario just downgraded. Tee hee hee. Don't know why but the whole thing gives me the giggles. Like we've been living with our head in the sand for so long. When the sh*t finally hits, it's going to be worse because of the long denials...
ReplyDeleteNot everyone see 'em as denials. Collusion is not singular in Thailand, Ireland, or wherever.
ReplyDeleteFunny reading about Iceland looking to use the CAD because we are sooo solid.
ReplyDeleteYet our Provinces are getting down-graded and we are a 10% housing correction away from the Fed Government having to throw money at the CMHC and then we may be asking to use the Icelandic Kroner.!
The old Chipman 80-20 rule applies here and I think is valid: 20% of Realtors do 80% of the business. Or something.
ReplyDeletemy guess: those middleman probably earn about the canadian average if they get two done deals a year.
ReplyDeleteany better educated guess/facts from others?
Easily. Selling to new arrivals is a niche market with an annual average of $250k-$300k. We are not even talking of the top 20%. Many realtors today are working at other jobs full-time or part-time. One that works at 3 municipalities full-time as well as on contracts, often use inside information to speculate on properties along planned rezoning land and infrastructure construction.
Deletemiami real estate’s great selection of luxury real estate opportunities can definitely prove to be intimidating, especially to those who are looking for luxury real estate properties for the first time. But we can change all that for you starting today with our remarkable expertise in luxury real estate.
ReplyDeleteVery rapidly this site will be famous among all blogging and site-building
ReplyDeletevisitors, due to it's fastidious content
My web page :: weight loss methods