October 5, 2012
Eugen Klein, REBGV president declares a buyers market.
What is a buyers market?
A buyer's market is when there are many more homes for sale than there are buyers. As a result, prices may drop over time as home owners become eager to sell their property. To measure market activity, the Greater Vancouver Real Estate Board has a unique tool. It's a Sales-to-Listings ratio which measures the balance between demand and supply.
- a ratio of 12 sales for 20 listings means we are in a seller's market (also known as a ratio of 55 - 60%).
- a ratio of less than 7 sales for every 20 listings means we are in a buyer's market (also known as a ratio of less tan 35%).
- a ratio between 7 and 12 sales per 20 listings is considered a balanced market.
Read the full REBGV's report