MOI - VREB search - 01/08/08
This "Months Of Inventory" (MOI) snapshot was based on MLS searches done for the VREB area on August 1, 2008.
Single family home listings total 1454. Condo inventory is down from the last check to 1198. There are now 442 townhouses available - a slight increase. Million dollar plus listings now total more than 20 months of inventory! There are currently 361 million dollar plus properties listed. Expensive properties are now approaching two years of inventory as these types of sales have fallen off a cliff.
Even though the total inventory hasn't increased much since the last check, the sales numbers for July were worse than June. So the months of inventory number in all categories look uglier.
For comparison, check out the previous inventory search here.
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Geez, watching the CTV vancouver news tonight (Aug 15th) and notorious RE pumper Bill Good said: "More evidence that the BC Housing bubble has burst..." yes, he actually used the word "bubble"... :-)
As evidence he quoted the listings increases and sales decreases in Kamloops and the Okanagan, in particular.
Wow, what a change a few months makes....now the MSM is down on BC RE....where will it all end...?
...maybe bill has some vacation presales he can't unload...
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