Saturday, May 24, 2008

May 24 Week Ending Stats

We live in some crazy times, and they keep getting crazier.

Oil hit $135 a barrel this week, and will go higher. Goldman Sachs is thinking $200 / barrel within 2 years.

Another Canadian bank, RBC, is proclaiming that the Canadian housing boom is over. We all know Alberta's market is slumping and Canada's is slowing dramatically. There are 17286 properties for sale in Greater Vancouver. There is an 11.2 month supply of homes in the US.

Victoria, of course, is no different. Sales have slowed. Inventory doesn't stop rising. Right now, we are at 4522 properties for sale in Greater Victoria.

On the MLS, today we have 154 more SFH listed than one month ago, 170 more condos, and actually 5 fewer townhomes. 2 out of 3 ain't bad!

In case anyone is interested, CMHC has released their 2nd quarter housing market outlook for Victoria.

Oh yeah, thanks for visiting this site and making it an active forum for comments. Let's remember to keep the comments civil and focused more on real estate. Thanks.