Months of Inventory (MOI) has dropped under last year's value. This is the first YoY drop in Months of Inventory since January of 2018. However, this could be short-lived as sales typically drop in August and it could increase MOI back to the positive territory YoY in August.
Recent observation of the Vancouver market has shown us the following:
MOI under 4 months = seller's market
MOI between 4-7 months = balanced market
MOI over 7 months = buyer's market
This is a new adjustment. I previously followed REBGV's suggestion that the balanced territory is between 5-8 months (SAL between 12-20%) but recent data suggests that the balanced market is more between 4-7 months (SAL between 14-25%).
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