SLIDE 1
Residential Market Update
The consequences of the lack of supply… Brought to you by the GREAT SUPPRESSION
Greater Victoria
Demand outweighs Supply VIDEO HERE
Residential Market Update The consequences of the lack of supply - - PowerPoint PPT Presentation
Residential Market Update The consequences of the lack of supply - - PowerPoint PPT Presentation
Residential Market Update The consequences of the lack of supply Brought to you by the GREAT SUPPRESSION Greater Victoria Demand outweighs Supply VIDEO HERE April pace Slower than Winter Realized a reduction of 58% July Pent-up Demand
SLIDE 2
SLIDE 3
April pace
Slower than Winter
Realized a reduction of 58%
SLIDE 4
July
Pent-up Demand
30 Sales per day.
- 26 sales in June
- 14 sales in May
SLIDE 5
Greater Vancouver
Data courtesy of...
Daily Average: 234 Sales *Greater Van & Fraser Valley
SLIDE 6
Pricing & Absorption
Demand is greater than Supply
Lack of Inventory
- Absorption: Overall 4.4
○ SFD: 3.4 Months ○ Condo: 6.1 Months ○ Townhouse: 5.3 Months
- Condos: 1.7% Increase over
- 2019. $529,900 HPI
- Single Family: 5.7% increase
- ver 2019. $910,400 HPI
SLIDE 7
China’s Recovery
Data courtesy of… Mike Delprete
USA Recovery
SLIDE 8
The future...
Supply is still a problem Pent-up demand Less supply coming Flu season VIDEO HERE