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
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 30 Sales per day. ● 26 sales in June ● 14 sales in May
Daily Average: 234 Sales *Greater Van & Fraser Valley Greater Data courtesy of... Vancouver
Pricing & Absorption Lack of Inventory Demand is greater than Supply 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 ● over 2019. $910,400 HPI
China’s USA Data courtesy of… Mike Delprete Recovery Recovery
The future... Supply is still a problem Pent-up demand VIDEO HERE Less supply coming Flu season
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