Monday, April 11, 2011

Evidence of Demand Pulled Forward in Vancouver

The closing of the window to obtain a 35 year amortization appears to have pulled some demand forward in the Vancouver market. This typically has two effects, it not only makes the months of demand look better before, it also starves the months after the event. Weekly numbers are a bit preliminary, so we won't know for certain what the rule change impact was until April's official numbers are released.

Agent Will kindly provides weekly stats from the REBGV, which I have charted below.
Weekly Sold Listings in Close-In Greater Vancouver Area

*Vancouver as defined on Agent Will's Website:
The numbers and chart you see above are generated from data provided by the Real Estate Board of Greater Vancouver. Areas included for the count are: Vancouver West, Vancouver East, Burnaby, Coquitlam, Port Moody, Port Coquitlam, New Westminster, Richmond, North Vancouver, and West Vancouver. South of Richmond, East of Port Coquitlam (Maple Ridge/Pitt Meadows), and North West of West Vancouver (Islands, Squamish, and Whistler) are not included.

One nice side-effect of the 18th deadlines is the sales impact should have percolated through the system by the end of the month.

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