Vancouver Real Estate’s Battle Cry

Battle Cry

Some things don’t change. At this time of year you can hear the battle cry of Realtor’s® saying “spring is the best time to sell your house so list now”!

Keeping the Faith

In this glutted market of listings and few sales, some Realtors® and their sellers are keeping the faith. They believe that ‘the spring market’ is the right time to sell. They also believe the Vancouver real estate market will not let them down – ‘it will sell!’

Yet, opposition to such faith exists in heretical evidence – listings in the lower mainland now exceed 25,092. This number surpasses the previous highs seen in 2011 – [22,323] and 2012 – [23,087].

Notably it is highest level in three years at a time when sales reported by the various boards, are below 10 year averages.

Cron IDX Graphs 2013 04 20

Losing My Religion

I have an ear worm.

Ringing in my ear are the lyrics to this R.E.M. song released in 1991. A song which Michael Stipe the lead singer has noted as “ just a song about having a crush.”

It’s probably not out of line to suggest that we in Vancouver have a ‘crush’ on real estate.

As Stipe’s lyrics state “every whisper of every waking hour” we continue to keep our faith in that love affair.

Hint of The Century

Yet the reality of the numbers in the “corner” under the “spotlight” might be the “hint of the century”.

Is it possible that this Vancouver real estate love affair, this ‘crush’, is not working?

The massive increase in listings suggests that some Realtors® and Sellers continue to keep their faith. Yet, I wonder – is the reality of this glut of listings a foretelling that without a huge increase in sales their faith in Vancouver real estate may shatter and cause them to ‘Lose Their Religion’?

Broken Heart Rhubarbdotcom

Crushing the Crush

While I respect the faith people have in a market, I also realize that the toughest part of any Realtor’s® job is delivering the truth revealed in hard numbers. In that truth exists the ability to destroy a “crush”!

So I wonder! Have “I said too much”?

Image: Rhubarbwine

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.

When Life Moves You - contact Larry:

*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:

Form Man Says:
April 21st, 2013 at 8:46 pm

nice wordplay Larry !

as for the Vancouver housing market………..perhaps we are approaching that ‘wile e coyote’ moment just before he looks down’………

vangrl Says:
April 23rd, 2013 at 8:40 am

“So I wonder! Have “I said too much”?”

some realtors might think so, but I appreciate your honesty:)

Boombust Says:
April 23rd, 2013 at 2:14 pm

I think market sentiment is getting atheistic by the MINUTE.

Told ya so.

Karnac the magician Says:
April 23rd, 2013 at 9:35 pm

If people perceive sales will be slower, then they will be. The opposite effect when people believe sales will go higher, then they go higher. -if everyone believes

It does not take much to tip the scales one way or the other..

April 23rd, 2013 at 10:08 pm

@karnac

“it does not take too much’….

That too would be my response if I thought federal government intervention, a world financial problem, depressed wages etc. etc. was considered not to be too much.

April 24th, 2013 at 7:25 pm

@larry

The fearless leader over at the Real Estate Board of Greater Vancouver, Sandra Wyant, states, according to The Globe and Mail:

“Sandra Wyant has come across tantalizing clues that she believes point to a gradual turnaround in Vancouver’s tepid housing market.

The new president of the Real Estate Board of Greater Vancouver sees modest but encouraging signs of a stalemate easing between buyers and sellers. Sales volume in the Vancouver region fell 18.3 per cent in March, compared with the same month in 2012, but there is a silver lining: Decreases in year-over-year sales have slowed since last fall, when the number of homes sold tumbled nearly 27 per cent. Another clue? An industry statistic known as the sales-to-listings ratio has improved in Greater Vancouver. “There seems to be more of a meeting of minds going on,” Ms. Wyant said in an interview.”

All is well Larry, according to Sandra, the price turnaround is just around the corner. Never under estimate the power of a woman!

April 24th, 2013 at 8:05 pm

@lookoutbelow

Vancouver – the gender driven market place. Yet another sterling dynamic for pundits to reflect upon.

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