September 2012 month to date (previous week in brackets)
Net Unconditional Sales: 208 (97)
New Listings: 671 (359)
Active Listings: 4716 (4690)
Sales to new listings ratio: 31% (27%)
Net Unconditional Sales: 458
New Listings: 1303
Active Listings: 4940
Sales to new listings ratio: 35%
Sales to active listings ratio: 9% or 10.8 MOI
The market continues to be comatose and we're on track for again missing last year's already mediocre marks. Meanwhile the BC Real Estate Association has been quick to lay the blame on the new mortgage rules for Vancouver's sales collapse, completely ignoring that it started before they were instituted (thanks JustWatching). Their big brother illustrates how yearlong forecasts are useless by revising them constantly (again, credit JustWatching). Does anyone actually use these forecasts or is this just make work by an organization trying to justify its own cost to its members?
About this time last year is when some people here made some forecasts about the end of the year, with mixed results. Anyone care to try again just for fun?