STATS!
Transcript:
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a wait-and-see approach from homebuyers
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is allowing listings to accumulate and
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prices to edge down across the Metro
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Vancouver housing market let's take a
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closer look at the November numbers
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Realtors registered just over 1,600 home
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sales on the MLS last month this is a
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43% decline from the same period last
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year and is 35% below our ten-year
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November average historically low demand
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from home buyers is allowing the homes
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available for sale in the region to
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return to typical levels there were
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about three thousand five hundred homes
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newly added to the MLS in November
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bringing the total number of homes
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currently for sale to about twelve
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thousand three hundred home prices are
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dictated by supply and demand we measure
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this by looking at the total inventory
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of homes for sale and compare it to the
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number of sales during a given month we
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call this the sales to active listing
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ratio downward pressure on home prices
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occur when the ratio dips below to
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twelve percent mark while home prices
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can experience upward pressure when it
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surpasses twenty percent for sustained
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periods this ratio for all property
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types across Metro Vancouver today is 13
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percent which suggests a balanced market
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this is the fifth month in a row we've
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seen a balanced market we're open down
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by property type we see detached homes
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are in buyers market territory townhomes
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and condos are in a balanced market
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territory edging towards the buyers
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market range
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the benchmark price for all residential
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homes in Metro Vancouver is down 1.4
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percent over last year's record-setting
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figures this price blends all homes
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across the region giving you an idea of
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the overall trend of the market broken
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down by property type you'll see that
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prices have been edging down in all
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property types since the spring over the
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last six months detached homes have
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declined 6.6 percent townhomes have
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declined 4 percent and apartments 5.5
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percent will watch conditions in the
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first quarter of 2019 to see if
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homebuyer demand picks up ahead of our
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traditionally more active spring market
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for further housing information go to
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the news and statistics section of this
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website for the real estate board of
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Greater Vancouver