Good story to engage some conversation…is this a “spring thaw” in the real estate market, in other words that normally at this time of year we see prices rise due to increased activity or are we seeing a fundamental balancing of the market?As I have said in my recent video on this no one is ready to call 30 days of data “the bottom” and I think that with the positive news of increased activity leaking out, some sellers who have been sitting on the sidelines waiting, may jump back in flooding more inventory to a weak market.We need at least 60 more days of the same kind of data (increased sales activity, increased sales to new inventory ratios, lower absorption rates, and stabilizing median prices) then we can say with more confidence that the market is at bottom.
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By Jeff Douwes (LePage Foothills), March 25, 2009 @ 9:16 pm
indicative of what we are seeing here in Calgary in the single family market…. but a ridiculous comment at the end about a lady who paid $52,000 to get out of her current mortgage and into new lower rate financing !!! Wow… who needs financing if you’ve got $50K to make a penalty payment. I guess we have to assume the writer hit one too many zeros as $5,200 makes more sense.
By Greg, March 26, 2009 @ 5:54 pm
Actually it is not impossible her penalty was that high. it would mean she probably has a higher then $1,000,000 mortgage though. Being in Vancouver that is not out hand either. Yikes though I agree.