Tyler Schacter's Blog: All Categories

Yes, the current inventory of the Fraser Valley Real Estate Board is at an all time high of 12,300 units, but is this figure as scary as it sounds?

  The previous record that has just been broken was set in 1995 when the inventory levels reached 12,000. The local real estate market in Langley was fairly stagnant at the time. Keep in mind, the population of the Township of Langley (TOL) was approximately 65,000 in 1995. This means that there were 0.18 listings in the Fraser Valley for every resident of the TOL. This is not an entirely useful figure; however it will work for the purpose of comparison.   The current population in the TOL is approximately 100,000. With a listing inventor of 12,300 in the Fraser Valley, this works out to .12 listings for… Read Full Post

 

There has been a lot of speculation and talk on the Canadian housing market lately, as a result of the constant stream of negative press flowing from of the US.  Firstly let me say, do not believe everything the media tells you.  The press thrives on negativity, so if they can spin statistics to paint pictures of Doom & Gloom, that’s what they’re going to print.  “Do not put your faith in what statistics say until you have carefully considered what they do not say”.  ~William W. Watt  If you prefer a more practical insight on the value of statistics consider the following: “The average human has one breast and one testicle.”  ~Des McHale

That being said, allow me to offer my professional opinion on what is happening in the US, and whether or not it…

Read Full Post

This months stats package just came out and has some useful tidbits:

"May’s increase in new listings at 3,691 was the second highest influx of new inventory on record for the Fraser Valley Board’s MLS®. New listings increased by 34 per cent compared to the same month last year taking the number of active listings in May to 8,381, an increase of 52 per cent compared to the 5,496 active listings in
May of 2006."

A 52% increase in inventory from last year is HUGE.  However, last spring was ridiculous, and we all saw what happened in the fall because of the over-paced spring market in 06.

The sales are at almost the same level as last spring, which was also at a record breaking level.

One of the more important factors in determining whether we're in a…

Read Full Post