Canada's Housing Bubble

Jul 27, 2010 Weekly Stats

Source: Agent Will

About these Statistics:

The numbers and chart you see above are generated from data provided by the Real Estate Board of Greater Vancouver. Areas included for the count are: Vancouver West, Vancouver East, Burnaby, Coquitlam, Port Moody, Port Coquitlam, New Westminster, Richmond, North Vancouver, and West Vancouver. South of Richmond, East of Port Coquitlam (Maple Ridge/Pitt Meadows), and North West of West Vancouver (Islands, Squamish, and Whistler) are not included. The numbers is focused more on Vancouver and the immediate suburbs.

More reading:

On Mar 16, 2010 Ethan Rabidoux worte:

Check out the latest graph of listings and sales in Vancouver. You will notice the blue line at the top, representing total listings, visibly trending upwards, while the red line at the bottom, showing sales, has actually declined over the past month. Interesting, no?

Supply and demand at work. Prices will begin their downward march in a couple months once houses get harder and harder to sell and owners capitulate.

On Nov 11, 2009 Richmond BC realtor James Wong said:

"This may be the best time to sell when others are buying. If everyone is thinking of selling, it may be too late. Home prices can easily fall 15% to 20% when market sentiment turns, and home sellers are rushing to sell."

Click here to read James Wong's "Real estate lost decade?"

Click here to read Garth Turner's "Lost decade?"