REBGV September 2019 Projections

Sales projections show that the sales are now back to the typical 10-year average.  It is worth noting that it was a remarkable run from February 2018 to June, 2019 as it stands as one of the longest buyer's market period that the Vancouver market has seen in the last couple of decades.  It has caused a significant ~10% drop through Greater Vancouver with the west side experiencing greater drops and the east side experiencing less.  

Total Inventory is expected to stay level this month much like many other years that were balanced years.  It is now almost at the same level as a year ago which is a fairly significant statement given the record number of housing completions over the last 12 months.  It is expected that we will see a reduction in year-over-year TI for the first time in October, 2019 since January, 2018.

Nothing has been more disappointing to watch than the New Listings as it continues to struggle 4 months in a row.  This is having a significant impact on the Total Inventory without any doubt.

The MOI is projected to inch lower in September in what will be known as the largest month-over-month decrease in MOI for the month of September.  MOI typically increases month-to-month in September as it has lower number of business days than August.

Buyer's Market: > 7 months
Balanced Market: 4-7 months
Seller's Market: < 4 months