How Low Can You Go?
Total Active Listings haven’t been this low in the past 5 years. Sellers are firmly in control of the market place with average prices are already at a record busting levels.
Total Active Listings
Why So Low?
What’s the cause of this low inventory? Few know for certain but many speculate. Perhaps it could be:
- Offshore suitcases loaded with cash ready to buying anything in sight
- Locals taking advantage of low interest rates
- Geopolitical uncertainty – ISIS, US Election, China
- Limited housing options – home or neighborhood upgrade limited
- World stock markets lack stability
- Oil crisis
- Mobility – Population migration to BC
You Ain’t Seen Nothin Yet
To pinpoint the real reason to explain the ultra low inventory is difficult. Real estate in Vancouver in 2016 will be full of surprises and from a historical perspective perhaps back in 1974 these bah-bah-bah-boys sang a chorus that said it be-be-best!