Monday Market in Vancouver - Or is it Tuesday?

Picking up steam in the seasonal buying fever

Market Snapshot 2009/03/30

So I was working on some prices recently, trying to make sense of what I'm seeing with these numbers. The term 'Price Rollback' came to mind. Rollback to 2004. I'm almost afraid to suggest that the market activity is improving the scene for sellers, because while I think it is getting better for sellers, it's getting better for sellers who don't try to get 2006 prices! If you're going to sell, you're still selling where the buyers are setting the price.

On with the numbers...This week there are 3143 homes in the market (again, the region I watch is not all of Clark County). That's still trending down and is less than last week's 3215. The number of homes in pending status (not on market, not transferred) is 579, which is the same as last week. And, ta-da! - the number of homes that closed was 59! This is not an unusual ratio for this time of year. It is a sign of a more active market and no doubt reflects the availability of low interest loans as well as the summer move cycle.

More than half of the market activity is still in the prices below $250,000. But it's the busy half.

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