Exodus of Vancouver’s Active Listings

Genesis

So it begins – the annual and somewhat predictable mass exodus of Vancouver Real Estate’s Active Listings.

Sticky

Comparing the total Active listing count of 19,123 on December 4 2010, now in 2011, it seems that some glue is slowing the fall to 20,993, a difference of 1,870 units.

Vanish

Allowing the presumption that humans are collectively creatures of habit, it is plausible to expect December 2011 to match December 2010 when almost 2,000 Active Listings vanished from the market place.

If It Was Good Once

Continuing the creature of habit assumption suggests that we should also be prepared for a resurgence in Vancouver real estate beginning mid January 2012.

Thoughts

My thoughts are that everyone has been lying low trying to figure out where the market will end up only to find that after their wait it will be exactly where they left it. Looking down the road there is a hint that mid January inventory will be low, the selection of houses in good condition will be minimal, and a further supposition is that everyone will be fed up with their wait and anxious to get on with their lives.

First stop on that journey – buy or sell a home.

I’m booking listings now for January. Need a Realtor® – get ready to move in March or April.

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About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

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*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

Reader Comments:

Boombust Says:
December 5th, 2011 at 7:19 pm

I have a hunch “it will be different this time”, Larry.

VanCityOV Renter Says:
December 5th, 2011 at 8:59 pm

I think i shall continue to wait, my invested funds pay for my rent all day long and them some! Owning is so old school. Happy Holidays folks!

fish10 Says:
December 5th, 2011 at 9:14 pm

They haven’t gone anywhere too far.

they will be back with the first signs of Spring and maybe even earlier 🙂

December 6th, 2011 at 8:34 am

@VanCity Renter
Congratulations, it must be nice to be on top – then again many ‘old school’ home owners have a basement suite that just keeps on giving in cash. Netting the difference – suspect is that unlike your pride and joy paper trail investments, few pay tax on that mortgage paying revenue.

December 6th, 2011 at 8:35 am

@Boom
you are right! We will be older and hopefully more wise.

vangrl Says:
December 6th, 2011 at 2:53 pm

I’m with VanCityOV, I’m happy having sold my place in March and renting. The dividends more than pay for my rent-back and they get a great tax break .Dividends are much better than dealing with the headaches of rental properties and paying taxes on rental income. I might feel differently if the market comes down about 30%

JRoss Says:
December 6th, 2011 at 6:13 pm

“suspect is that unlike your pride and joy paper trail investments, few pay tax on that mortgage paying revenue.”

Even though they are required by law to do so? Are you really advocation tax evasion as a viable real estate investment strategy? If you are going to promote illegal enterprises, a grow-op in the basement would be more profitable.

VanCityOV Renter Says:
December 6th, 2011 at 6:20 pm

@ Larry, I pride myself being honest and paying taxes, if you don’t want to declare rental income fine but don’t think twice the CRA will eventually come a knockn!

You owners are in the same boat as renters as you live above or below the ones renting from you. I have had tenants and the noise and such just is not worth it.

December 6th, 2011 at 6:27 pm

@JRoss

What I see and hear are distinctly different from what I do. Don’t be so righteously anxious to throw boiling water on someone – read what I said “I suspect”. That does not mean that I know this for fact or that if I did that I would condone it.

December 6th, 2011 at 6:30 pm

@VanCity
It’s nice to know that there are solid tax paying Canadians out there who understand that our social services must be paid for by someone. Thanks!

“the noise and such just is not worth it” – definitely a case of different strokes for different folks. Money makes us all do a lot of strange things.

VanCityOV Renter Says:
December 6th, 2011 at 10:22 pm

Curious Larry… any idea or stats on the percentage of SFH in Vancouver E&W that have a suite or 2 or 3, seems to me the majority do or i am seemingly proud? You are correct that money makes people do weird things, ditto for debt.

December 6th, 2011 at 10:59 pm

@VANCITY
I’m not sure if the city has a ‘certain’ number to satisfy the basement suite question – my guess: 4 to 6 out of 10 in Vancouver. You can do search of properties in the ‘Search for Homes’ feature and make a quick tabulation based on the number of listings that record ‘unauthorized accommodation”. Can’t speak to other areas.

“ditto for debt” – debt is money with a minus sign 🙂

Boombust Says:
December 7th, 2011 at 6:30 am

Remember Larry…with age comes wisdom.

December 7th, 2011 at 9:36 am

@ Boom
LOL!
– that would be true however, I question whether those glimpses of wisdom are an epiphany or just another senior’s moment

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