Tuesday, July 2, 2013

June wrap up

The VREB is up to it's usual optimistic antics with June's report, saying that real estate has rebounded in the second quarter.   A truly amazing 65% more activity in the second quarter than the first.  I can't wait for the 3rd quarter when they report that sales activity has collapsed compared to the second quarter.

As is every month, June was a balanced market in their eyes.  Despite their convoluted active-listings-to-sales-ratio, this time they may have a point, since the residential MOI at 6 is on the tall side of balanced, and 14% lower than last year.

Here's a tower of graphs for you.

How's the decline from peak looking?   Little rebound this spring, but expect it to keep dropping in the following months.

Despite the VREB's hyperventilating (it is hot out there), 2013 is still the slowest year for sales in almost 15 years.

MOI seems to have peaked, at least for the time being.   Before anyone gets too excited though, the MOI in Seattle peaked as well, and the market kept declining for 3 years.  What do you think, are we past peak inventory?

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