April’s Stats Don’t Lie

Obvious

There are times when it is very difficult to ignore the obvious. Admittedly I am not a great scribe and there are those amongst you who have taken me to task for my failings – perhaps rightly so. But I wonder, why would the REBGV say this: “Home buyers and sellers became more active”. Feeling a bit feisty I ask if it is too much to believe that everyone understands that for every buyer there must equally be a seller? Further, if one of the two has become more active the equation dictates that so will the other. It seems so obvious!

Fat Cheeks

With tongue in cheek it is obvious that Stats Don’t Lie – at least those proffered by the Real Estate Board of Greater Vancouver. Ponder the ‘mootness’ of that debate and this.

Presidential Mootness

The Board’s new President Ray Harris reached deep to come up with one of the oldest Realtor® lines in the book saying that, “we saw steady increases in home seller and buyer activity in April, which is typically the case in the spring months. People often look to buy or sell their home this time of year as the school year draws to a close and the summer holiday season is still a few months away.”

President Harris’ continues giving us measured comfort in telling us that “home prices in the region continue to show steady, yet modest, increases when compared to last year.”

But What About?

denial

I digress for the moment in saying that I’d like my president to commission statistics that don’t generate staid, comfortable, responses that are equivalent to having our head buried in sand.

They would be uncomfortable questions. Perhaps they are less obvious but, I think, more telling of our market’s state now and in the near future.

He might for example, ask people who don’t have kids “why they are selling? Were he bold and ready to stand on a sword’s edge he might ask why there is plethora of new Canadian friends selling their homes?

Stretching suspicion – new FINTRAC disclosure requirements may be a determinant however, regardless of the selling rationale, were answers freely given those statistical answers would in the context of being moot, make interesting dialogue.

April Volume

  • 3,050 unit sales pushed April’s sales 16.1% above last year but remained 5.2% below the 10 year average
  • sales-to-active listings ratio rocketed at 19.7%
  • total listings are down by 7.3% YOY
  • current listing inventory sits at 15,515 – down 7.3% compared to April 2013

The Numbers

Detached

House-Picture-Sales-Rising-300x225
  • Detached Sales in April 2014 reached 1,336 – up 25.6% compared to April 2013’s 1,064
  • $957,700 is the Detached Benchmark price which climbed by 4.7% compared to April 2013.

Apartment

  • Apartment sales totaled 1,172 in April 2014 – up 11.4% compared to April 2013’s 1,052
  • The apartment Benchmark price is $375,500, an increase of 2.6% compared to April 2013

Attached

  • Attached sales totalled 542 in April 2014 – up 6.1% compared to April 2013’s 511
  • Compared to April 2013 the benchmark price is up 2.0% to $464,400

Full Report Here

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:

Gary Says:
May 4th, 2014 at 4:58 pm

Hi Larry,

Like many lurkers, I appreciate and enjoy your regular posts and data.

I found these latest comments most interesting.

Can you share more depth on these and also any Coffee Talk updates?

thank you!

May 4th, 2014 at 6:32 pm

@Gary,

re comments: A general response. Specifics of each situation should demand a legal opinion which is beyond my purview.

super Says:
May 7th, 2014 at 9:40 am

Where is your usual trusty monthly chart? I need my fix 🙂

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